Looking for a new rental home? Our guide to the current market will help you put your best foot forward.
Eating out, shopping, the arts, beaches, transport – Sydney’s got it all!
Locals know how beautiful, friendly and fabulous it is to live in and around Sydney CBD. With its spectacular nightlife, cafes, cinemas and shopping, Universities and proximity to trains, buses and even the airport, Sydney is a hive of activity and has a great vibe, which is behind the strong rental trends in Sydney CBD.
There is a strong mix of professionals, tradies, students and academics in Sydney CBD. This combined with being positioned right amidst the best of the city’s delights to create exciting rental trends in Sydney.
- You’ll find apartments of every shape and size, from beautiful art deco buildings to simpler brick blocks and modern glittering towers.
- For those after some outdoor space, you’ll also find townhouses and even freestanding homes. Unfortunately you can expect to pay a premium for that slice of garden!
Tough competition for renters
Competition for rental properties in the Sydney CBD area can be tough.
- With several Universities nearby creating a large student population, and close proximity to the Sydney CBD for professionals, suburbs like Newtown, Redfern and Marrickville have particularly high levels of demand.
- It seems like demand for rental apartments in the CBD is a little below average but rents here are very expensive with prices averaging from $625 a week for a one bedroom apartment.
- You’ll find demand is a little lower in suburbs like Ashfield, therefore you should get some better rental value here.
How much rent can you expect to pay?
Here’s a snapshot of current median rental prices for a unit in parts of Sydney CBD per week as at January 2017.
Bondi Junction $680
And if it’s a house you’re after, here’s a look at what you might expect to pay per week in some areas of Sydney CBD, as at January 2017.
Bondi Junction $910
Rents can vary a lot between suburbs
If you’re looking for a new home it can pay to choose your suburb carefully as you can make some big savings on rent.
- Demand in Newtown, for example, is almost 2.5 times higher than the average for New South Wales.
- And in Redfern and Marrickville, demand is close to double the state average.
Due to rental trends in Sydney, areas like these where demand is higher, rents will be higher.
After better value for your rental dollar?
For more bang for your rental buck, head towards Ashfield. Rental demand is much lower here, about 20% less than the NSW average.
Looking for a new rental home? Check out some of the latest listings in Ashfield, Bondi Junction, Marrickville, Redfern, and Newtown.
You need to do your homework on the rental trends in Sydney!
There is a very strong demand for the rental trends in Sydney CBD right now. It certainly pays to be ready to put your best foot forward when looking for a new home, especially when budgets are tight and every dollar counts.
- Keep a keen eye on the latest rental listings, and talk to your local Property Managers about your needs. They can let you know if the right place pops up.
Tip: If you notice a property has been advertised or vacant for a while, don’t be afraid to try and negotiate on the rent.
Get your application organised so you’re ready to go
Don’t wait until you find the perfect home before getting everything ready for your rental application – you could lose precious time and find someone has nabbed it before you!
- Prepare copies of your photo identification, any references you might have from past landlords, financial statements and recent payslips, and references for any pets you have.
- A big plus is a copy of the rental ledger from your current or previous home. This clearly demonstrates your reliability as a paying tenant.
City Finance can help you with fast cash for your rental bond and moving expenses
Are you interested in the Need help getting quick cash together for your rental bond and moving expenses? Just pop in and visit our friendly staff at our City Finance Sydney CBD branch for a chat or call (02) 9212 2267 .