Sydney Rental Market Update | March 2021

We are pleased to report that since the start of 2021, we have experienced stark stability in the Sydney rental market compared to last year.

 

We note that according to the Domain Group, the average Sydney unit rents are still at 2013 prices and remain $80 lower than the record high achieved in 2018. COVID created a massive opportunity for tenants to save up to 30% of their rents in a lot of cases. 

However, even before COVID, apartment rents have been falling annually since 2018 as increased new development activity provides greater tenants’ choice. Tenants were not only seeking better alternatives within the same suburb, but they have been moving across few suburbs pursuing newer, cheaper, and more quality living. 

So taking into account last year and also the rising competitiveness of apartment market competition with new developments, we are pleased to report that we are starting to see some healthy numbers with our rentals.

Not only are we leasing out our apartments for slightly more rent, but we can now provide multiple application options to our landlords. 

 Below are some of the properties that we leased out recently for our clients: 

Address Bed Bath Car Price Per Week
3906/115 Bathurst St Sydney 2 2 0 $1,000
3202/148 Elizabeth St Sydney 4 4 1 $1,250
323/298 Sussex St Sydney 2 2 1 $1,050
104/308 Pitt St Sydney 2 2 1 $800
37/267 Castlereagh St Sydney 2 2 1 $750
264/303 Castlereagh St Haymarket 2 2 1 $700
1603/343 Pitt St Sydney 2 2 0 $650
3101/81 Harbour St Haymarket 2 1 1 $850
7/80 Fig Street Pyrmont 2 2 1 $730

Teejay Seo If you would like an obligation free investment health check please call Teejay Seo on 0401 295 604 or email [email protected]

 

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