The Sydney suburbs where rents have risen, and fallen, most in a year | TawarRazaghi
Asking rents for houses surged in 89 per cent of Sydney suburbs analysed in the latest Domain Rental Report, while unit rents increased for 57 percent of suburbs.Houses in Elanora Heights had the largest jump of 45.7 per cent – or $400 – in the year to March 2022, reaching $1275 a week.
“The tide has changed,” Powell said. “Those who are coming to the end of their lease, landlords will do that comparison, and it’s likely that the majority of tenants will see their asking rents increase.“The cost of living and the impact on household budgets is going to be evident for renters … and we’re likely to see those others [suburbs yet to see an increase] move into positive annual growth.”
Moving further out is not an option for inner-west renter Zoe Davison, 23, who needs to live close to her university and work. “I cannot stress enough how stressful that process was … we were accepted two days before we were going to be homeless, we would have been couch-surfing,” she said. The Australia Institute’s Centre for Future Work senior economist Alison Pennington said the pandemic housing boom increased the intensity of competition for “forever homes” and stability, widening the gap between housing haves and have-nots.
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