A dozen Sydney markets and three in regional NSW are offering tenants refuge from the rental crisis.
These ranged from housing markets in the Northern Beaches to unit markets in the south west, with some median rents dropping by more than 10 per cent since May 2021.While most came from a low base, all of the markets recorded an increase in the number of properties remaining empty for 21 days or more after being listed for rent.
The house market of Prairiewood in the Fairfield region experienced a 300 per cent increase in the number of properties staying vacant for three weeks or more, with the number rising from one to four and the median rent dropping 7.8 per cent from $510 to $470 a week. But while the number of prolonged vacancies has increased across the markets, available housing has remained relatively low.
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