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Rental squeeze boosts inner-east property market

The Sydney rental market is experiencing a period of undersupply, leading to predictions that rents will continue to rise in 2007.

Rental properties are in high demand with the tightening vacancy rate dropping to an average of 1.7 per cent, well below the 3 per cent industry benchmark.

Rents in Sydney are expected to rise by up to 20 per cent this year according to the Real Estate Institute of NSW, with the inner-city experiencing a 1.4 to 2.5 per cent decrease in vacancy rates over the year.

Investors are taking note of the improving rental returns and confidence in property investment, and returning to high performing areas like the inner-east.

“Sydney is becoming a landlord’s market, making it an opportune time to buy property as investment,” says Carrington’s Residential Sales Executive Ben Forsyth.

“The inner-eastern suburbs are always in high demand, but even more so as the demand for quality properties in a central, sought after location like Surry Hills increases.”

- rent, growth, market

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