Continuing growth in demand for short-term accommodation has resulted in upward pressure on prices. We have seen increases in recent times averaging at least 10% per year and in some cases considerably more. As a consequence budgets may need revision. Some Budgets Cannot Meet Expectations We are seeing some employers struggling to achieve acceptable standards of accommodation for their staff. There have been some recent examples where the employee had to change to alternative

Volatility in sales prices in Sydney and Melbourne and greater stability in other State Capitals. Rental stability across the country except for Perth. What does this mean for employers relocating staff interstate to Sydney and Melbourne? In our August Client Alert we commented that Sydney and Melbourne rents have shown stability in recent years  despite significant price increases. In other State Capitals sales price increases have been much lower as the table below illustra

Stability in rents, volatility in sales prices. What does this mean for those relocating to Sydney and Melbourne? Sydney and Melbourne rents have shown continuing stability over the last twelve months. Sydney houses have averaged approximately 2% increase, with some areas e.g. Lower North Shore increasing by up to 5%. Melbourne houses have averaged approximately 2.7%, with some areas e.g. Bayside seeing increases of up to 10%. Property Selling Prices Indeed rent stability has