LEASE & MANAGEwith experience Agency for new & leased listings 2020, 21, 22, 23 #1 2022 REINSW Property Management Team of the Year – FINALIST 2022 REINSW Business Development Manager of the Year – WINNER Rental Price Increases The Sydney rental market continues to experience significant growth, due to lower than ever stock levels across the board. This tight rental market is placing immense pressure on renters, driving vacancy rates lower than we’ve seen- a trend that is no longer specific to the Inner West, but rather across Australia. The counter to this scenario is the rising interest rates putting pressure on landlords whose mortgages have significantly increased, with some owners even forced to sell. This is contributing to higher than ever churn rates of properties under management. Rise In Immigration Migrants tend to reside excessively in the Inner West Availability of employment are within the local area Availability of transportation hubs & universities The rise in immigration is further exacerbating the rental pressures. There are multiple factors that come into play, all which are collected from our census data: Investor Activity There is a positive trend developing, as investor activity in the market is rapidly increasing, particularly compared to the period during the pandemic. The involvement of more investors is expected to enhance rental availability & alleviate some of the rent pressures, but it will take time for these changes to take effect. The number of new rental properties entering the market each month is relatively small compared to the overall size of the rental market. Vacancy rates: 1.7% 1.5% 0.65% SYDNEY INNER WEST HARRIS TRIPP Ashfield Summer Hill 0.9% 1% Marrickville Dulwich Hill 1.1% 1.1% Lewisham 1.4% Stanmore Petersham 1.5% 1.5% Vacancy rates by suburb:
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