Sydney house rentals have continued to rise in 2017 with rental markets in most capital cities tightening providing no relief for tenants. Sydney and Darwin remain clearly the most expensive capitals for tenants with both cities reporting an increase to the weekly median rent in the March quarter to $550.
For units Sydney now boasts the highest weekly rent at $530 per week, significantly higher than the other capital city, which is led by Canberra at $428 per week. In Sydney’s Eastern Suburbs, house prices continue to increase getting closer to global meccas Manhattan, Central Tokyo and West London. The distance between the harbour city and the rest of Australia becomes increasingly obvious as prices continue to rocket.
According to Michael Krimotat of Ray White Double Bay, renters are also struggling to find homes, with data showing there has been a 12.5% increase in rental demand in NSW over the past year, an 8% jump in the last month.
Insights from Elliott Placks, Managing Director & Principal, Ray White Double Bay Changes in policy always bring about new levels of uncertainty across the market. However, changes also make way for new opportunities; particularly for those who act strategically and not reactively. Last week’s federal budget introduced major changes to Negative Gearing benefits and Capital … […]
Following the recent Federal Budget announcements, we would like to provide a clear overview of what the proposed changes may mean for property owners, investors, owner occupiers, and renters moving forward. The 2026 Federal Budget introduced the most significant changes to property investment tax settings in decades. While the headlines have been dramatic, the reality is … […]