| If you are renting and paying $950 a month, it's | | | | increases in median house prices were in the |
| very easy to spend the rest of your pay-packet | | | | outer suburbs, and areas not well serviced by |
| on meals out, new clothes, and entertainment. | | | | public transport. |
| There is some inherent benefit of having a | | | | We live in a consumer generation that is very |
| mortgage and needing to pay the loan | | | | confident about the future. Some people have |
| repayments. This is a habit aspiring home-buyers | | | | only ever known prosperity and don't understand |
| should get into. That is what many people are | | | | the idea of investing for a bad period. Renting |
| doing. Agents say, that in most cases, expectant | | | | fulfils all their needs; and they don't focus on the |
| owners who rent, have chosen to absorb higher | | | | reality of buying real estate. Normally these people |
| rents and stay where they are, while continuing | | | | have a 'live for today' attitude, which suits the |
| to save for a house. | | | | times of this generation and this is why we have |
| Most tenants have heard, or read, in the media, | | | | this boom situation. If you are ready to rent you |
| how tight the rental market is at the moment. | | | | will find a selection of houses, and apartments for |
| They are prepared to pay the difference, until | | | | rent, all located in Victoria when you go to Take |
| they decide what they want to do. In many | | | | advantage of the thousands of property listings |
| cases, the rent rises are encouraging them to get | | | | offered on Australia's largest free online property |
| into the market sooner. | | | | listing pages, where you can buy, sell, rent an |
| Agents overwhelmingly tip that the inner city and | | | | apartment, or house all from the comfort of your |
| middle suburban areas are safer investments than | | | | own home. |
| the outer suburbs, a fact supported by REIV | | | | Generation X's and young Generation Y's are |
| (Real Estate Institute of Victoria) findings. In its | | | | making the inner city and surrounding areas more |
| latest analysis of the market, it highlighted that | | | | attractive to property investors. Perhaps this is |
| each of the top ten suburbs to report strongest | | | | because some renters don't want to be drawn |
| increases in median house prices for the year | | | | into holding down a loan; consequently, you have |
| were within a 15-kilometre ring of the city. By | | | | many people staying in the rental market. |
| comparison, all ten suburbs to report the lowest | | | | |