Toggle Menu Header

Liam

Liam

Property Enthusiast,

NSW: Apartment landlords within inner Sydney may have begun to gradually attract tenants again after slashing rents

12D ago 0 Replies 18 Views
Figures from SQM Research showed the proportion of rental homes sitting vacant in the CBD dropped from a high of 16.2 per cent in May to 12.9 per cent in August.
The change in vacancies coincided with a plunge in rents – the average asking rent for units in the CBD over August was about 23 per cent lower than a year prior.
There were also about 700 fewer vacant properties across the Greater Sydney area in August compared to July, with the vacancy rate dropping from 3.6 per cent to 3.5 per cent. The vacancy rate was the highest among the capital cities, despite the drop.

Newcastle and Wollongong also had a slight easing of vacancies in August, as did many other regional NSW areas.
“Easing of vacancy rates across much of NSW may be attributable to landlords responding to the changed market conditions brought on by the COVID-19 pandemic,” Mr McKibbin said.

Source:


Share on:
Tags: Sydney

Top Contributors Last 30 days

1 InvestAus
2 Anuj
3 Anjali

Related Posts

NSW: Sydney’s auction market predicting greater auction clearance rates week-on-week

According to the researcher’s preliminary figures for the week ending 27 September, out of the 815 Sydney homes taken to auction this week, a preliminary auction clearance rate of 74.8 per cent has been returned so far. This marks an improvement on last week’s preliminary figure of 72.4 per cent, which later revised down to 67.5 per cent at final collection. Overall, CoreLogic noted that there were 1,107 capital city homes taken that went under the hammer for the week. Of the 841 results collected so far, 70.5 per cent have been successful results. Continue reading at: x Sydney clearance rates on track for continued grow... Preliminary figures are looking good for Sydney’s auction market, with CoreLogic predicting greater auction clearance rates week-on-week. www.smartpropertyinvestment.com.au Continue reading at:
InvestAus
InvestAus
6Hr ago 22 Views

NSW: Sydney recorded its highest clearance rate since 15 March

CoreLogic has released its final auction clearance results for last weekend, which reported a final auction clearance rate of 67.6%, up on last week’s 63.0%: Sydney’s final clearance rate firmed to 67.5% (from 65.9% last week), whereas Melbourne’s surged to 70.0% based on only 10 results. As noted by CoreLogic: Sydney returned a final auction clearance rate of 67.5% last week as volumes rose across the city, with 677 homes taken to auction up from the 600 auctions the week prior when 65.9% cleared. Over the same week last year, a lower 646 auctions took place across Sydney, with a success rate of 72.7%. However, Sydney recorded its highest clearance rate since 15 March: Continue reading at: x Sydney's auction market bouncing - MacroBusiness CoreLogic has released its final auction clearance results for last weekend, which reported a final auction clearance rate of 67.6%, up on last week’s 63.0%: Sydney’s final clearance rate firmed t... www.macrobusiness.com.au
Sarthak
Sarthak
2D ago 39 Views

NSW: Except for Ryde, It is now cheaper to buy than rent in Sydney

Purchasing a house has become more affordable in recent months as property prices begin to fall across most of Sydney. Apart from one area of Sydney, new research from RiskWise has revealed that it is now cheaper to buy than it is to rent.He said in many areas, rent money was dead money, and that renters with secure jobs were better off buying a house than continue paying off someone else’s mortgage. “This current slowdown in the property market is only temporary, with houses in popular areas likely to experience solid capital growth in the medium to long term,” he said. “It’s clear that without as much competition from investors, many first-time buyers are now looking to get in,” he said. Ultra low interest rates have led some lenders to offer introductory home loan variable rates of 1.99 per cent, a move which follows the launch of the first fixed rate of less than two per cent. Source: x Sydney now cheaper to buy than rent off the back o... Record low interest rates and favourable buying conditions have made Sydney a buyer’s paradise, with almost every part of the city now cheaper to buy than it is to rent. www.realestate.com.au
Joshua
Joshua
3D ago 13 Views

NSW: The Central Coast is receiving an influx of renters from Sydney

The Central Coast is experiencing one of its biggest rental booms in history as Sydneysiders flock to the coastal region. While many parts of Sydney are struggling to secure renters, the Central Coast has the opposite problem after recording its lowest vacancy rate ever of 0.7 per cent in August. The majority of Sydneysiders moving to the central coast are regular renters coming from the western and north western suburbs of Sydney. Continue reading at:x Central Coast rental vacancy rates down to 0.7 per... The Central Coast is experiencing one of its biggest rental booms in history as Sydneysiders go to unprecedented lengths to secure property. www.realestate.com.au
Anuj
Anuj
3D ago 239 Views

NSW: The Sydney residential property market is in surprisingly better shape going through the pandemic recession than expected

As the spring selling season gets underway, one of the most astute market watchers Christopher Joye has also detected signs the COVID-19 induced housing correction may be coming to an end. The main risk to the “nascent recovery is a second wave emerging in New South Wales,” he wrote in the Livewire newsletter, suggesting there was already evidence of a significant deceleration in losses across Sydney. “Consensus expectations have entered around much larger price falls of between 10 per cent and 30 per cent nationally,” Joye wrote. “Our March forecast for a modest correction followed by strong house price appreciation in the order of 10 per cent to 20 per cent in the years thereafter remains intact.” Continue reading at: x Sydney property market in better shape than expect... The Sydney residential property market is in surprisingly better shape going through the pandemic recession than almost every commentator had expected, writes Jonathan Chancellor. www.realestate.com.au
Justprop Team member
Justprop Team m
6D ago 14 Views

Apartment rents across Sydney and Melbourne have been hammered since the onset of the COVID-19 pandemic

Apartment rents across Sydney and Melbourne have been hammered since the onset of the COVID-19 pandemic, falling by 4.2% and 4.4% respectively between March and August: The onset of COVID-19 may be creating a two-speed rental market, with inner-city rents declining faster than those in the outer suburbs. CoreLogic data confirms that there is a positive correlation between changes in rent values and distance to the CBD. This means that the closer a region is to the CBD, the more likely it is that rent values have fallen. CoreLogic rent values were analysed across SA3 regions of Brisbane, Sydney and Melbourne. For each region, the median property distance to the CBD was compared with the change in total rental market values from the end of March (which marked national, stage 2 restrictions) to the end of August. Get details at: x CoreLogic: Inner-city rents hammered - MacroBusine... The latest rental data from CoreLogic reveals that apartment rents across Sydney and Melbourne have been hammered since the onset of the COVID-19 pandemic, falling by 4.2% and 4.4% respectively betwee... www.macrobusiness.com.au
Joshua
Joshua
9D ago 13 Views
14 online
Steve
Lamont Hickman
Justprop AU
Godrej Royale Woods
MD
and more ...