I’ve noticed that there are a lot of new apartments springing up all around Canberra. Seen heaps in Bruce but in the city, in tuggeranong, in Dickson, there just seems to be new apartment blocks being built.
There’s also like 5 new suburbs in Gungalin and also the new Molongo suburbs.
Surely, Canberra’s population can’t be growing that fast can it? What with the high AUD scaring off oversea students and the efficiency dividend putting a cap on APS numbers.
So been renting in Canberra for the past 7 years. The rent increases seem to be crazy! It now costs like $350 for a cramp, run down 1 bedroom unit! I just don’t understand what person who can afford that amount of rent would want to live in a place like that??
So I was wondering, with all these apartments going online in the near future, is it possible for rent prices to fall? Has that and does that ever happen in Canberra? Should I be negotiating a rent price drop? The laws of supply and demand tell me that it should, but in my short history of renting, it feels like every year, the rent keeps going up, up and up. 🙁