Are the rents under pressure in Sydney?

'It's a renter's market': Rents fall across pockets of Sydney

 

Rents are def off the boil...but that was to be expected. I still think that once the excess supply is soaked up that there will be a rental prop shortage, leading to higher rents.

 

Rents are lilely to head down for the next 2 years or so...the amount of supply coming along will keep a lid on rent increases.

 

A great time for those wanting to RENTVEST

 

Yes can easily negotiate 10-20% discount on asking rent in inner west now

 

in Ryde, Epping, North Ryde areas, there are still lots of apartments yet to be completed, imagine the pressure on the rent in the next 6 to 12 months

 

Lower rent and ongoing capital losses. Ya think?

 

Normal part of the cycle- Boom-rents drop-prices dip-rents start to increase-people see more value in buying-prices start rising.

 

Yep very true.....

Agreed...VERY normal part of the cycle...nutin' out of kilter here.....though some parts of the markets such as 3 brm units will hold up.....

Sure is...example is Meadowbank .....new units have dropped 100-150pw. Older units probably 30-40pw.

 

Let's say I were to rentvest. I could rent somewhere in Meadowbank, but where would you put the "vest" part? Outer Sydney?

 

If I told you that...I would have t swear to secrecy under the threat of death.....

 

Adelaide or Perth (or LIC's)
Brisvegas has been hyped already and Hobart is flavor of the month now
Sydney is over, Melb is close behind followed by Vic regionals
(am not saying decent buys cant be found, you just have to look hard and be "very" dilligent )

 

If it can happen in Canberra....

Pete Wargent Daily Blog: Canberra rents

 

I doubt it will take long to fill those Epping apartments. I would be more worried about apartments further west I remember those ones on north rocks road took quite a long time to fill and I would imagine places like Liverpool may well see heavy discounting to rent out new stock

 

Yeah... talking about new apartment locations, at least Epping has better transport than a place like Wentworth Point? And all the new apartments are within 800m of the station at Epping. I'm not sure why anybody would choose to live at Wentworth Point - it just doesn't seem to be convenient to anything.

 

I guess with the new shopping centre it would be better. The metro will take another decade IF it is to go smoothly.

 

I think wouldn't people living in Wentworth Point see that living in Rhodes would be so much more convenient? The apartments in both suburbs would be much of a muchness, so why would anybody choose Wentworth Point over Rhodes or Meadowbank? I think Wentworth Point has no particularly amazing redeeming features to make me choose to live there. It's a bit soulless and ugly, and add in the need to cross a bridge to get to anywhere half useful by foot...

 

Rental vacancies in Sydney hit highest rate in more than 13 years

"The Sydney rental market has recorded its highest vacancy rate in more than a decade, with almost 20,000 rental properties estimated to be sitting empty.

The city’s residential vacancy rate rose to 2.8 per cent in June, its highest rate in at least 13 years according to the latest data from property analysis firm SQM Research.


An estimated 19,572 residential rental dwellings are estimated to be sitting vacant and available for rent."

 

Some of the apartments on the foreshore are quite nice on both Wentworth Point and Rhodes sides. Also there are a lot of people who bought OTP in Wentworth Point during this last Sydney boom whereas Rhodes was already well established in prices...I agree generally though that Rhodes is much better and anything on Wentworth Point side is easily accessible from Rhodes as well.
Both Rhodes and Wentworth Point are in very convenient locations if you travel by car (and can deal with Homebush Bay Drive traffic). Pretty much bang in the middle of Sydney and everything (except for Western Sydney) is about 20mins away