Rentals tightest in cheap suburbs
July 23rd, 2009
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Interesting article over on domain.com.au regarding the state of the rental market in Sydney. Here is an extract:
The rental market remains as tight as ever in Sydney’s most affordable suburbs, offering scant relief for tenants, a report says.
Despite the flood of first-home buyers who have stopped renting, figures published today by SQM Research show the number of houses for rent in the western suburbs is shrinking.
In Liverpool and Bankstown, vacancy rates were 1.6 per cent in June and had not eased in the past year, SQM said. This bucks the trend across Sydney, which has the nation’s highest vacancy rate of 4 per cent, fuelled by young people exploiting record low interest rates and buying property.