Private rents tick up for the first time in 11 months in January

RCR rents posted the highest growth.

Private residential rents grew for the first time in 11 months in January, data from SRX property showed today.

Overall private rents grew 0.2% last month, driven by a robust 1.9% rental growth in the RCR. OCR rents increased by 0.2% while rents in the CCR posted a 0.8% decrease.

Rents declined 5.9% on a year-on-year basis. Rents in January 2015 are 9.6% down compared to its peak in January 2013.

Rental volume increased 13% month-on-month in January, with an estimated 3,417 rented compared to 3,025 units rented in December.

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