Sydney rents could plummet ‘up to 25 per cent’
Sydney rents could plummet ‘up to 25 per cent’
Rents in some of Sydney’s most popular suburbs have been forecast to drop by hundreds of dollars a week this year – with landlords warned coming interest rate cuts could drive an exodus from the rental market that could ease tenant competition.
Modelling provided exclusively to the Saturday Telegraph has forecast what rents will be in each suburb within 12 months’ time, revealing mixed outcomes for tenants.
Rents were expected to rise in most areas, with nearly half of the suburbs across Greater Sydney forecast to get average rises in rents of over 7 per cent – double the current underlying inflation rate.
But there were also many suburbs where rents were expected to drop by 15-25 per cent by year-end on account of rising vacancies and other factors.
Source: https://www.realestate.com.au/news/sydney-rents-could-plummet-up-to-25-per-cent/