Are we seeing rentals are dropping now?

Discussion in 'Property Market Economics' started by DanRoger, 18th Apr, 2018.

Join Australia's most dynamic and respected property investment community
  1. DanRoger

    DanRoger New Member

    Joined:
    18th Apr, 2018
    Posts:
    1
    Location:
    Sydney
    currently seeing property market rental and selling markets are going down?
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    3,316
    Location:
    NSW
    Vacancy rates or values?
     
  3. Zoolander

    Zoolander Well-Known Member

    Joined:
    15th Dec, 2016
    Posts:
    668
    Location:
    Sydney
    I've had three western Syd units relet in Feb/March. Some rents are down, some up. Biggest factor for me is whether new apartments come online at the same time.

    Nothing noteworthy.

    DanRoger, which country/city/area are you focused on?
     
  4. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,677
    Location:
    Perth
    Not in Perth
     
    Westminster, charttv and Angel like this.
  5. KinG3o0o

    KinG3o0o Well-Known Member

    Joined:
    17th Jul, 2017
    Posts:
    868
    Location:
    Sydney
    not in sydney where i am.. ie glebe and green square.
     
  6. jins13

    jins13 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,943
    Location:
    Sydney
    Recently increased one of my rentals by $10 per week and another one which will also increase to $10 per week, but to be fair I did have it slightly under market rent.
     
    Perthguy likes this.
  7. AndyWhite

    AndyWhite Member

    Joined:
    31st May, 2016
    Posts:
    17
    Location:
    Melbourne
    3 new tenants in our apartments in St Kilda (VIC) over the last few months.
    1 same rent
    1 up $20/week
    1 up $100/week (3 tenants - a couple and their friend) in this 2 bed/2 bath rather than the 2 we normally have in)
     
    Perthguy likes this.
  8. Eric Wu

    Eric Wu Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    1,595
    Location:
    Australia
    my tenants in Sydney said they can't find the similar properties with the same rent they are paying.
     
  9. David Shih

    David Shih Mortgage Broker Business Member

    Joined:
    21st Jun, 2015
    Posts:
    1,013
    Location:
    Sydney
    Across the board of my portfolio:
    - Granville unit (Sydney) - remained the same last year, previous year had $5/wk increase
    - Slacks Creek & Woodridge (QLD) - had to drop about $20-$30/wk to attract new tenant
    - Eagleby (QLD) - had 2 consecutive $5/wk increases over the last 2 years
    - Murrumba Downs (QLD) - had 2 consecutive $5/wk increases over the last 2 years
    - Newcomb (VIC) - $10/wk increase earlier this year

    So it depends.

    My northern Logan ones had the hardest hit unfortunately. Competing with lots of highsets around the investor heavy area.
     
  10. sumterrence

    sumterrence Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    406
    Location:
    Sydney
    Overall across regional NSW and I'm Qld I've experienced rental increase.

    Singleton height - previously 300/wk, just renewed 340/wk,the agent also managed to secure a tenant before the previous vacate.

    Moree - previously 200/wk, just renewed 240/wk.

    Resbank plains - previously 300/wk, now 310/wk

    Collingwood Park - previously 350/wk, now 355/wk