Sydney Rental Market has been very tenant friendly with house and unit rents back down to what they were in 2015/2016.
Median house rents are now $25 below the peak reached in 2017-18 and unit rents are $40 below their peak in 2017-18. House rents are back where they were in 2016 and unit rents back where they were in 2015.
On the positive side, vacancy rates are hovering around 3% which is good news for our landlords. We have found that it is vacant properties that fast drain landlord’s pockets than slightly lower rate of rents.
From our agency perspective we have had a great 2019 and hit the ground running in 2020.
This year in the rental market we are expecting more of the same and will continue to focus on speed and quality.
We are also excited to have few new technologies and systems to implement this year to better service our landlords and tenants.
Our Results from 2019:
- Total Properties Leased: 154
- Applications received: 408
- Tenants Inspected: 1618
- Average rent for each property leased: $704
- Days on Market: 21.7
Median rent prices in Sydney:
|Median unit rent prices||Median house rent prices|
|Sydney (as a city and not a suburb)||Dec-19||Sep-19||Dec-18||Sydney (as a city and not a suburb)||Dec-19||Sep-19||Dec-18|
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