Sydney Suburbs Most Expensive to Rent
In an article for the website Your Investment Property, Phil McCarroll writes that Sydney is the costliest city to rent a room in. Where the national average is $202.62, the average weekly rent in Sydney is $275.44- a clear 36% higher. These are not mean figures!
Sydney suburbs most expensive to rent
Out of the top 50 most expensive suburbs, 44 are located in Sydney. In fact, the first 34 spots are taken by a Sydney suburb and this is a glaring statistic. Glaring as it may be, the statistic is nothing to be surprised about. The Sydney property market is doing well for long and the statistic is the reflection of its worthiness.
CBD cheaper than suburbs
What is surprising- and clearly a paradigm shift- is the fact that the suburbs are trading higher in terms of rental rate when compared to more favourably located CBD areas of the capital cities.
Cheap and expensive suburbs
Liverpool, Croydon and Penrith are cheap to rent (trading even below the national average). Contrarily, Zetland, Pyrmont and Potts Point are scaling pretty high; close to double the national average.
You can read the original article here.
The rental yield and the capital growth do not rise simultaneously during a property cycle but of course this is not a rule set in stone. Presently, the suburbs of Sydney are witnessing a growth in rental returns as well as a handsome capital growth. Investors who are not too keen on negative gearing might find their investment-grade properties in these suburbs generating quite some positive cash flow.