Real estate agency sprung ‘bragging’ about a $225 per week price hike | Emily Power
A property company has been exposed celebrating a $225 per week rental price rise as an ‘achievement’.Below the details is a photo of kids pillow-fighting on a bed.with the comment: “My rent just went up $400 a month and the agency sent me an email bragging about it …”The email also told recipients the average weekly rental increase is almost $100 a week, and revealed increases in average rent prices: “July 2021 to December 2021: $393. January 2022 to June 2022: $460”.
One tenant called the email “cringe” and a landlord remarked: “I received the same email and had the same disgusted feeling, and I’m an owner .”Ironfish has been contacted by Nine for comment. Data from large national real estate agency Ray White shows that advertised rental prices have increased by almost 14 per cent, outpacing CPI rental price rises of 1.6 per cent.this month has tightened to a record level of less than 1 per cent, Domain data shows.
A lack of listings has increased competition, and rising interest rates – with costs being passed on by landlords to tenants – plus inflation, has continued to squeeze the rental market to a crisis point.
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