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There is no doubt that Sydney is in the grip of a severe rental crisis with less that 1% vacancy rate. This situation has existed for some time and does not seem to be improving. There is a huge demand for good quality rental properties, particularly for families relocating from overseas and looking for a family home in a good area. Demand is exceeding supply which means that landlords are charging premium rentals with their pick of prospective tenants.
However, on the Sales side, according to Australian Property Monitors, the Sydney Housing market is showing early signs of increased buyer activity with auction clearance rates indicating a level of stabilisation emerging in the marketplace.
July 2011
There is no doubt that Sydney is in the grip of a severe rental crisis with less that 1% vacancy rate. This situation has existed for some time and does not seem to be improving. There is a huge demand for good quality rental properties, particularly for families relocating from overseas and looking for a family home in a good area. Demand is exceeding supply which means that landlords are charging premium rentals with their pick of prospective tenants.
However, on the Sales side, according to Australian Property Monitors, the Sydney Housing market is showing early signs of increased buyer activity with auction clearance rates indicating a level of stabilisation emerging in the marketplace.
July 2011