Sydney rental properties offered at half price to secure tenants amid coronavirus pandemic

https://www.domain.com.au/news/sydney-rental-properties-offered-at-half-price-to-secure-tenants-amid-coronavirus-pandemic-946886

Rents are already halving. What's going to happen in 6 months when everyone gets evicted at once? What will rental vacancy rates and rents do?

Experts are predicting mass vacancies in October.

 

Would be interesting to hear what the property managers here have to say? The article appears a bit sensationalist - a few scattered examples at the top end of the market. Also who on earth was renting a northern beaches four bedroom apartment for $1395 per week before all this happened - that is big coin. Also in areas like Rhodes, Wentworth point, Olympic park rent free periods were being offered all through 2019.

 

'mass vacancies'

What does that mean? Poor mum and dads, just when they thought they got rid of the kids..

Side note - I do think the idea of a dual occupancy arrangement, family in one house, grandparents in another will be in demand

 

Click on anything from Domain and you will be spammed to death with ads - Clickbait.

 

haha - surely someone in marketing can revamp the name.

I see this becoming more of a trend in the future, already thinking about this with our family.

 

Sensationalist headlines. Reckon the Govt should step in and start censoring some stuff the way Singapore does (at least for the duration of the pandemic).

 

I know it's not residential but is this normal in commercial?

Rental crash goes commercial. Free rent for a year, St Kilda.

 

Or like China does?

 

Yes should definitely step in and censor this, sensationalist headlines about the next property boom are the only ones we should allow, need to keep the masses desperate for property otherwise we will have no one to sell to, and might not get to crystallize our gains!

 

I dont think $1,395 is out of the question at all with ocean views in Fairlight. I received offers of $900pw before Corona for my 3 bed ground floor unit in Dee Why. At under $1k a week and a really nice walk to the Ferry its a bargain

 

Lets pray this never happens so we don’t end up like other communist countries.

I think most people around these here parts are clever enough to know headline grabbing dribble when they see it.

 

I drove past this sign yesterday. The location isn't great, it's on Grey St near the corner of Barkly St where it's pretty rundown. I'm sure the rent ratchets up a lot after the first year and you're probably locked in for 3-5 years.