Real Estate is the hottest tech area of the year, and one that’s already showing signs of growth in the home market.
A new report by research firm Comscore shows that the home rental market in Australia has surpassed the $1.3 trillion mark for the first time, and that number is set to rise by about $300 billion by 2020.
Key points:The data from Comscore also shows a 20 per cent increase in home rental numbers in AustraliaIn its annual home rental report, Comscore says home rents have soared over the last 12 months, rising 20 per of the Australian total, to a new record high of $1,314,000 in the June quarter.
That’s up more than 20 per, to $1 million, and it means there’s now a $300 million market for home rentals, with many of the listings in the market priced at $1 a night.
The data shows that, on average, Australians rent a home for a median of $8,200 a year.
That is up more quickly than the US, which had the second-highest average rental rate at $6,821 a year in the April quarter.
It also shows that Australians are more likely to rent out their homes than Americans.
Just 3.4 per cent of Australians rent their homes out, while in the US that figure stands at 17 per cent.
Australia’s rent growth has been driven by a huge increase in the number of properties in the national market, with the average price of a home now $2.6 million, according to Comscore.
The new data is the latest in a series of reports by the research firm that has shown that Australia’s housing market is showing signs to accelerate.
In April, ComScore found that Australia has a population of 1.1 billion, which is roughly the size of Texas.
That means there are roughly 3.1 million people living in Australia, a rise of almost 20 per per cent over the past 12 months.
The number of Australians living in metropolitan areas, the heart of the country’s booming economy, has also grown rapidly.
The average property value in Sydney is now $1 billion.
In Melbourne, it’s up $1bn, or 18 per cent, and in Brisbane it’s risen $300,000, or 12 per cent to $931,000.
The price of the average home in Brisbane is $1m, which means that it’s now the second most expensive property in the state after Sydney.
The report shows that Sydney and Melbourne are the two cities where home prices are the highest.
It’s also important to note that while home prices have risen, they are still very expensive in many other major cities.
For example, the average salary in Sydney was $66,000 a year, which was more than double the average household income in Melbourne.
In Adelaide, the median salary was $43,400 a year and the median household income was $59,300.
For comparison, the top 10 per cent earners earned just over $3 million a year ($80,000).
The Comscore report also shows Sydney’s housing affordability has worsened over the years.
In the April quarters, the home price index fell 6.2 per cent compared to the previous year, while the number one home price fell 9.4 percent.
A lot of people who have lived in Sydney have taken out loans to buy their homes, which in some cases is a very expensive option.
Comscore has a special report for people looking to buy a property.
It includes a guide to help you decide which properties to buy and where to look.
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