Sydney house, apartment rents at lowest levels in years

“Sydney rents are at their lowest levels in years but price rises could be on the horizon, with new data showing the rental market may be bottoming out as the supply of new apartments dries up.

Sydney’s median unit rent is down $40 from its peak, after dropping 1.9 per cent over the past three months  – and 3.8 per cent over the year, according to the Domain Rental Report for the December quarter 2019.

Although asking rents for houses held steady at $525 last quarter, following their steepest annual decline in more than a decade, this is down 2.8 per cent from a year earlier, the report released on Thursday shows.”

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