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.
Confidence continues to build across Sydney as well-presented properties attract strong enquiry and competitive offers. In this update, Melanie Lahoud and Breanna Skewes share what’s driving buyer behaviour, auction results, and investor activity. Quality listings are generating strong inspection numbers and decisive offers Auctions remain the preferred method of sale, … Read more
July 23 marks National Property Managers Day, a moment to pause and recognise the people who work tirelessly behind the scenes to care for homes, support landlords, and ensure tenants feel looked after. At Ray White Double Bay, we’re proud to celebrate our dedicated Property Management team. They are the … Read more