Sydney tenants on the hunt for a new rental have 62 per cent fewer properties to choose from than they did at the start of the Covid pandemic.
“It’s an incredibly staggering drop,” PropTrack economist Anne Flaherty said.
“The fact that we have seen such a large drop in such a short number of years really points to how much has changed in the market,” she said.
PropTrack data released Wednesday revealed Sydney recorded the sharpest drop in available rentals across the nations major cities last month. The vacancy rate is now 1.2 per cent.
Long lines of renters have…
News Corp Australia Network
This property at 45 Hale St, Townsville City, is for rent for $520 per week in a tight rental market. Picture: realestate.com.au
The Townsville rental market remains under pressure in 2023 with rental properties becoming scarcer as tenants cough up more to lock down a home.
The latest PropTrack Market Insight report showed rents in the Townsville region increased 7 per cent last year, to $460 per week, and were up 4.5 per cent in the December quarter.
The median rent for a house was sitting at $490 per week, up 4.3 per cent for the…
KIIS FM radio hosts Kyle Sandilands and Jackie ‘O’ Henderson.
Kyle Sandilands is striking a blow for struggling renters through a ‘revolutionary’ new business venture.
The radio king has a 95 per cent stake in Zero Bonds, which bills itself as ‘The Ultimate Rental Bond Solution’.
RELATED: Kyle Sandilands’ new $14m trophy home
ZeroBonds offers renters the opportunity to forgo paying bonds.
Zero Bonds offers tenants the opportunity to forgo the traditional four-week rental bond in favor of instead paying an application fee and percentage of their total bond value.
Sandilands was motivated to start the business to help out…
Tenants are feeling the pinch regardless of whether they move or stay put, according to new data showing rent increases on property sites Zoopla and Rightmove, while the Office for National Statistics has also recorded steep increases to mid-tenancy rents.
The median monthly rent in England between October 2022 and September 2023 was £825 – higher than at any other point on record, according to ONS.
Rents in London have risen at a particularly high rate in the last year – tenants have seen surges of 6.9% in the year up to January – the highest annual rate since ONS…