Rents in Sydney are the most expensive they’ve ever been. Rent Tracker uses rental bonds data rather than advertised rents to track the price of rent in New South Wales and give a different picture of what is happening in the private rental market.
The price of rent for new leases rose nearly 4% across Greater Sydney. This is in contrast to the story told by advertised rents which show much slower growth.
“The rent a landlord asks for is not necessarily the rent they get,” said Leo Patterson Ross, Advocacy and Research Officer at the Tenants’ Union. “This report gives us a different view on the rents tenants are actually having to pay when they move home.”
Rent Tracker also shows that rents are not all the same across Sydney, showing that while the more expensive apartments dominate the inner city, renters looking for houses in the outer suburbs aren’t facing the same increases. In fact, rents in houses have fallen or stayed flat in various locations across Sydney, with harbour-side suburbs such as Hunters Hill and Lane Cove recording falls of more than 3% across the year.
With interactive maps, historical anaylsis and detail covering the whole state of New South Wales, Rent Tracker is useful, interesting and the latest data is available now!