Is it just me or are rents peaking in Sydney
Duplicated thread, see other - sorry folks, too quick on trigger.
Duplicated thread, see other - sorry folks, too quick on trigger.
Last edited:
Is it just me or are rent rises slowing a little in Sydney?
- Thread starter Highlygeared
- Start date
Is it just me or are rents peaking in Sydney?
Just want to know what otehrs are experiencing. In the last month or so, I've seen a spike in new rental listings and landlords struggling to get higher rents. The areas Ive been looking at are in the East, Inner West and the Hills / Blacktown areas.
Could just be the seasonal demand and supply playing out but still, the fever pitch doesn't seem to be there...like it was in the last 6 months.
Just want to know what otehrs are experiencing. In the last month or so, I've seen a spike in new rental listings and landlords struggling to get higher rents. The areas Ive been looking at are in the East, Inner West and the Hills / Blacktown areas.
Could just be the seasonal demand and supply playing out but still, the fever pitch doesn't seem to be there...like it was in the last 6 months.
Hi HG,
Two threads, same question. But I'm sure a Mod will sort that out soon enough...
But in answer, I'm still seeing positive rental growth on the Northern Beaches with vacancy rates below 1%. There's still a real sense of fear in tennants not being able to get the properties they want. However, I just put my rental up 20% a few months back and did so easily. I'll let you know how I get on in 4 months time when I go up again.
Cheers,
Michael.
PS You wouldn't be related to the other HG would you?...
Two threads, same question. But I'm sure a Mod will sort that out soon enough...
But in answer, I'm still seeing positive rental growth on the Northern Beaches with vacancy rates below 1%. There's still a real sense of fear in tennants not being able to get the properties they want. However, I just put my rental up 20% a few months back and did so easily. I'll let you know how I get on in 4 months time when I go up again.
Cheers,
Michael.
PS You wouldn't be related to the other HG would you?...
Rents have stopped climbing on the Central Coast and higher end properties have dropped by up to $100/week!
Apparently alot of people are down sizing and renting their PPOR out, while cashing in on the TAx advantages.
The reason I know this is because I was going to do it myself! Still thinking about it.
Regards Jo
Apparently alot of people are down sizing and renting their PPOR out, while cashing in on the TAx advantages.
The reason I know this is because I was going to do it myself! Still thinking about it.
Regards Jo
Hi HG,
There's still a real sense of fear in tennants not being able to get the properties they want. However, I just put my rental up 20% a few months back and did so easily. I'll let you know how I get on in 4 months time when I go up again.
Cheers,
Michael.
PS You wouldn't be related to the other HG would you?...
I'd like to believe the projections for rents, but perhpas there is some element of rental affordability that must be considered ie "peak rent" - before people start finding creative ways of creating supply eg cramming, staying home etc. Job losses will be the bullet in my view. I think 5-10% pa max from current market value is the best outcome at present...hope Im wrong.
i can certainly say that as a tennant, i fear trying to find a new place to rent.
We are actaully about to sign up a new lease because of it..... a couple of months ago (in April), we were looking around, but found everything was much more expensive than what we pay now, and not that much better.
Furthermore, there was always 5 or more families/couples to compete with.
We are going to give it one last look in before we sign our new lease, but we dont expect to find anything different.
FYI - this is in the castle hill area.
We are actaully about to sign up a new lease because of it..... a couple of months ago (in April), we were looking around, but found everything was much more expensive than what we pay now, and not that much better.
Furthermore, there was always 5 or more families/couples to compete with.
We are going to give it one last look in before we sign our new lease, but we dont expect to find anything different.
FYI - this is in the castle hill area.
Curious to know if your rent is going up for the new lease you are about to sign.
I have tenants on a twelve month lease, and I will be increasing their rent at that time, if they wish to renew. I fully expect them to move on, but I am hoping they will have a look around and see that they will not get much better than they are renting now, and pay the extra.
If they move on, I risk losing a week's rent, which makes me think twice about rising it as much as I could if they move on anyway.
I have tenants on a twelve month lease, and I will be increasing their rent at that time, if they wish to renew. I fully expect them to move on, but I am hoping they will have a look around and see that they will not get much better than they are renting now, and pay the extra.
If they move on, I risk losing a week's rent, which makes me think twice about rising it as much as I could if they move on anyway.
You know i made a post about a house we have in the Hills area stating we couldnt get the rent we wanted bc the market wasnt as strong at the time...this was early this yr.
In Castle Hill and surrounds eg West Pennant or Cherrybrook, even parts of Beecroft etc, you could get a 3 bed house for circa $400-$500 pw rent. And its not like the ones advertised (even now) walk out the door. Unless youre looking for sub $400, $400 plus for a 3 bedder and $500 plus for a 4 bed will pretty much do the trick.
What kind of house were you looking for and how much was your budget?
Yes, I am hearing this too.....but it may also indicate that people don't like to move in winter. Also, there are more tourists coming in Summer.
I am also hearing that the low end of the market is moving very well as people budget for more petrol prices hikes they are lookign for more affordable accomodation.
For example in Newcastle anything (hosues) under 300pw are moving well.
Given, demand and supply...I don't think the situation will change that dramatically.....it is the end of the financial year so there will be a bit of hiatus....just like over the Xmas to New Year break.
Sash
I am also hearing that the low end of the market is moving very well as people budget for more petrol prices hikes they are lookign for more affordable accomodation.
For example in Newcastle anything (hosues) under 300pw are moving well.
Given, demand and supply...I don't think the situation will change that dramatically.....it is the end of the financial year so there will be a bit of hiatus....just like over the Xmas to New Year break.
Sash
Wylie,
rent is going up from $380 - $390, so a very modest increase. Its a good price, below what you would pay in another similar places, but we are just sick of the lack of heating/cooling (landlord said no)... sick of the cranky neighbours, and kinda sick of the run down interior. It needs a serious paint and new carpet.
Highlygeared,
sorry, i dont remember that post... i frequent too many forums these days
We are currently in a 3db, 2bath, double garage duplex in castle hill....
We want a 3-4db, 2 bath, double garage home... but my gf doesnt want to pay over $450/wk, or thereabouts.
Looking around, there are a few out there, but they mostly dont suit. The ones that are at the right price have virtually no garage, and the ones that do fit the bill are too extravagently finished and thus overpriced for us.
Even if i go up to $500/wk, most out there dont have the dble garage, which i NEED.
Just arent enough to select from. I think whats out there isnt moving so quickly cos they are the less desirable properties.
I could really only find about 5 properties within my price of $450-500/wk....
......some examples
- nice family 4db house, one garage, no pets. $500 (1 garage, and no pets = no families)
- nice well finished duplex, 4b/2bth... NO garage, $480 (who doesnt have a garage in the hills????)
- 4bd house, 2 bath, 2 garage, very dated interior and exterior $500/wk (very ugly)
these sorts of things just dont fit the bill for most people.
Maybe im just too tight and dont want to spend to get what i want
rent is going up from $380 - $390, so a very modest increase. Its a good price, below what you would pay in another similar places, but we are just sick of the lack of heating/cooling (landlord said no)... sick of the cranky neighbours, and kinda sick of the run down interior. It needs a serious paint and new carpet.
Highlygeared,
sorry, i dont remember that post... i frequent too many forums these days
We are currently in a 3db, 2bath, double garage duplex in castle hill....
We want a 3-4db, 2 bath, double garage home... but my gf doesnt want to pay over $450/wk, or thereabouts.
Looking around, there are a few out there, but they mostly dont suit. The ones that are at the right price have virtually no garage, and the ones that do fit the bill are too extravagently finished and thus overpriced for us.
Even if i go up to $500/wk, most out there dont have the dble garage, which i NEED.
Just arent enough to select from. I think whats out there isnt moving so quickly cos they are the less desirable properties.
I could really only find about 5 properties within my price of $450-500/wk....
......some examples
- nice family 4db house, one garage, no pets. $500 (1 garage, and no pets = no families)
- nice well finished duplex, 4b/2bth... NO garage, $480 (who doesnt have a garage in the hills????)
- 4bd house, 2 bath, 2 garage, very dated interior and exterior $500/wk (very ugly)
these sorts of things just dont fit the bill for most people.
Maybe im just too tight and dont want to spend to get what i want
Wylie,
rent is going up from $380 - $390, so a very modest increase. Its a good price, below what you would pay in another similar places, but we are just sick of the lack of heating/cooling (landlord said no)... sick of the cranky neighbours, and kinda sick of the run down interior. It needs a serious paint and new carpet.
Highlygeared,
sorry, i dont remember that post... i frequent too many forums these days
We are currently in a 3db, 2bath, double garage duplex in castle hill....
We want a 3-4db, 2 bath, double garage home... but my gf doesnt want to pay over $450/wk, or thereabouts.
Looking around, there are a few out there, but they mostly dont suit. The ones that are at the right price have virtually no garage, and the ones that do fit the bill are too extravagently finished and thus overpriced for us.
Even if i go up to $500/wk, most out there dont have the dble garage, which i NEED.
Just arent enough to select from. I think whats out there isnt moving so quickly cos they are the less desirable properties.
I could really only find about 5 properties within my price of $450-500/wk....
......some examples
- nice family 4db house, one garage, no pets. $500 (1 garage, and no pets = no families)
- nice well finished duplex, 4b/2bth... NO garage, $480 (who doesnt have a garage in the hills????)
- 4bd house, 2 bath, 2 garage, very dated interior and exterior $500/wk (very ugly)
these sorts of things just dont fit the bill for most people.
Maybe im just too tight and dont want to spend to get what i want
you couldve rented our place - it was 3 beds, 1 brand new bathroom, large double garage, nice neighbourhood in WPH near Beecroft..but we wanted up to $500. We're living in it now.
Hi HG,
Two threads, same question. But I'm sure a Mod will sort that out soon enough...
But in answer, I'm still seeing positive rental growth on the Northern Beaches with vacancy rates below 1%. There's still a real sense of fear in tennants not being able to get the properties they want. However, I just put my rental up 20% a few months back and did so easily. I'll let you know how I get on in 4 months time when I go up again.
Cheers,
Michael.
PS You wouldn't be related to the other HG would you?...
I am northern beaches based as well and our vacancy rates are still very low. However we are not getting as much of an increase on rents that we were a few months ago. It is just the winter market in this area... however in the 5 years i have been on the beaches this is the best winter i have seen!
