|By Dr Nicola Powell
Chief of Research and Economics
|Sydney’s record-breaking rent streak continued with house rents rising to a new high and unit rents back at a record high for the first time since 2018. It is a significant milestone for house and unit rents both to be sitting at a price peak. While it has been the norm for house rents to be smashing new highs since the beginning of 2021, it is a stark change for unit rents. The affordability issues of renting a house have become increasingly evident with budget-conscious tenants shifting to units. Demand pressures have also been sparked by the return of international and domestic travel, overseas migration and foreign students. This presents an opportunity for investors as increased demand pressure reduces rental supply and gross rental yields improve.
|Days on market
|The average number of days Strathfield – Burwood – Ashfield properties were advertised for, in the last 3 months
|46.9 days – Houses
69.8 days – Units
|Origin of enquiries
|54.7% of sales enquiries in
Strathfield – Burwood – Ashfield came from outside the area.