Investors 'returning to Sydney rental market'

Property investors are beginning to return to Sydney's housing market, it has been claimed.

President of the New South Wales Real Estate Institute Steve Martin told Australia's Daily Telegraph that these buyers are helping to increase the number of properties available for rent in the city.

"At last it seems we are seeing some return to the market by investors, at least in the key population belt of Sydney," he was quoted as saying.

Mr Martin added that first-time buyers have also contributed to the number of houses available on the city's rental market increasing, noting that tenants are "freeing up rental stock" by deciding to take advantage of home-buying incentives.

Earlier this month, managing director of SQM Research Louis Christopher told the Australian newspaper that low prices and decreasing interest rates have helped to increase interest in property investment in the country.

He added that rental rates in some areas of Sydney and Melbourne will continue to increase throughout 2009.

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