According to the latest research from Domain Group, the rental market in Sydney has remained quite tight. But while this may sound like bad news, it actually offers some relief following widespread investment concerns in 2014.
In the rental report for the December quarter of last year, Domain senior economist Andrew Wilson noted that recently, there had been concerns about the high level of investment in the Sydney market. This came in the form of the Australian Prudential Regulatory Authority writing to banks, warning them about the level of money that was being given out for investor loans. The concern was that lending would become more risky as the market edged towards a growth failure.
However, as Mr Wilson notes, the increase in rents across Sydney has seen a correction in this, stabilising the market somewhat.
Demand for rental homes in Sydney was bested only by Adelaide and Hobart this quarter, even though median rents rose to $520 per week for houses and $500 per week for units.
Finding the home you deserve can be difficult in this tight market, which is why engaging the right property management team is essential. Ray White Double Bay can help you rent property in eastern suburbs in this tight market, by getting you access to a roster of top tier properties in some of the highest quality suburbs in the country.
Rental yields in Sydney have decreased, according to the Domain report. This suggests that home owners are unable to continue increasing rents to match property price rises which may allow you to find some fantastic value for money.
To get ahead in the tight market, don’t hesitate to contact Ray White Double Bay. From luxury property at Point Piper to practical and stylish Double Bay rental homes, there is something on offer to suit any lifestyle.