MOUNTAIN VIEW, Calif. - U.S. domain name registry VeriSign has announced that the prices of domain names sold on its behalf by smaller registrars will rise on Oct. 1.

The price increases are expected to affect popular addresses that end in ".com" and ".net."

The wholesale prices are expected to increase 7 percent to $6.86 per ".com" domain and increase 10 percent to $4.23 per ".net" domain.

The increases are in accordance with a negotiated pricing scheme set by the Internet Corporation for Assigned Names and Numbers, according to Smart Company, an Australian online magazine for system-management entrepreneurs.

Brendan Lewis, executive director of the Churchill Club innovation forum, told Smart Company that Australian businesses are not expected to be affected significantly.

"Most local domain names are registered as ‘dot au,'" he said. "The retail end of the Internet hosting business is highly competitive, and many domain names are offered free of charge in a package."

Future changes to domain-name registrations are more likely to carry a greater impact in Australia, Lewis said.

Over the next few months, the Australian Domain Name Administrator will relax restrictions governing the sale of domain names that attract genuine advertising or maintain significant value.

"Come June, Australians will be able to sell domain names on market for a nice profit, rather than through the back door," Lewis said.