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The
Propertybuyer

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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Wed 22 Nov '23 with Rich Harvey Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23 with Rich Harvey Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23 with Rich Harvey How Sales Agents Think
 
 
Thu 15 Jun '23 with Rich Harvey Auctions – The Inside Scoop
 
 
Fri 9 Jun '23 with Rich Harvey Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23 with Amanda Jones Melbourne Property Insights
 

 

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Rent activity creates opportunity for investors

April 16, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

While rent in most capital cities either declined or remained flat during the March quarter, Sydney once again led the charge for Australian property investment potential. Recent data from Australian Property Monitors (APM) shows that the New South Wales capital city saw rents increase during this time period, particularly for units.

"There has been some relief for tenants generally over the March quarter with flat or falling rents reported in most capitals. Sydney, however, continues to record unit rent increases as affordability barriers impact on house rent growth," stated Dr Andrew Wilson, senior economist for APM.

"Melbourne has reversed the recent lengthy trend of flat or falling rents but rises are coming from a low base in what remains a generally tenant-friendly market. In Sydney, affordability constraints, together with growing preferences for inner-city apartment living, have seen rents move to a point where the median asking rent for a unit is just $10 less per week than a house."

There are two important takeaways for those seeking to buy investment property in Sydney.

First, APM pointed out that demand for inner-city apartment living is on the rise. This could be great news for not only property buyers in Sydney's central business district, but in suburbs surrounding the CBD as well.

Secondly, unit rent is now just $10 less than house rent in Sydney overall. This means that many consumers who may have only been looking for unit accommodation before may now realise that it costs essentially the same to rent a house.

For owners of houses for rent in surrounding suburbs, this could result in greater demand.

This trend is likely to continue, as APM stated that unit rents are set to reach parity with house rents in Sydney.

The Propertybuyer
Podcast

 
Wed 22 Nov '23
with Rich Harvey
Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23
with Rich Harvey
Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23
with Rich Harvey
How Sales Agents Think
 
 
Thu 15 Jun '23
with Rich Harvey
Auctions – The Inside Scoop
 
 
Fri 9 Jun '23
with Rich Harvey
Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23
with Amanda Jones
Melbourne Property Insights
 

 

Listen to many more
podcasts on our
Podcasts page.