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Sydney rents defy predictions to continue their rise
Topic Started: 10 Jul 2014, 10:55 AM (3,884 Views)
Simon_S
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Rufus
17 Jun 2017, 11:03 PM
Man you must be desperate.
Hardly.......Its so much fun watching all this unfold.
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Rufus
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Simon_S
17 Jun 2017, 11:20 PM
Hardly.......Its so much fun watching all this unfold.
Your posts are pathetic, not fun.
Edited by Rufus, 18 Jun 2017, 12:04 AM.
Take risks - if you win you will become wealthy, if you lose you will become wise
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herbie
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Rufus
18 Jun 2017, 12:03 AM
Your posts are pathetic, not fun.
Depends on ya definition of "fun" I 'spose?

Like if Simons' one of those blokes wot gets his jollies imaginin' pretty much everyone else in tha world is just pretty much naturally inherently inferior ta him in pretty much every way, his posts could be "fun" (ta him at least) I 'spose?

'Tho of course, if ya definition of "fun" is havin' a few dudes like Simons ta laugh at, then I gets me fair share of amusement from him anyways ... :)

But anyway, back on topic, wot tha f***'s any a that shit got ta do wif Sydvegas rents? ...
Edited by herbie, 18 Jun 2017, 10:52 AM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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DragonGM
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Rufus
17 Jun 2017, 08:34 PM
No they are dearer than Brisbane. It's because the % return on the value of the house is much lower in Sydney and Melbourne that rents look cheap, but in $ terms they aren't.

I never did understand renters in Sydney crowing about cheap rents, they aren't. Anyway here is the Domain rental chart.

Posted Image
The other interesting stat is that rent in Perth is the same as Adelaide and Hobart. Perth - how it has fallen.
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Rufus
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DragonGM
18 Jun 2017, 09:23 AM
The other interesting stat is that rent in Perth is the same as Adelaide and Hobart. Perth - how it has fallen.
Yep, Perth and Darwin have fallen quite a bit. So too have inner city unit rents in Brisbane where it's been reported to me that rents have fallen a bit more than 10%
In fact I wouldn't be surprised if rents in inner city Perth have fallen by a fair bit more than 11.8%

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b_b
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Rat
17 Jun 2017, 07:16 PM
There's no end in sight for Sydney rent rises. Tough times to be a tenant...

https://www.domain.com.au/news/rising-rents-plague-city-sydney-prices-surge-despite-record-home-building-20170614-gwqor0/

‘Rising rents plague city’: Sydney prices surge despite record home building

Over the past year median advertised weekly rents have increased by 10 per cent in the inner city, and by almost 5 per cent Sydney wide.
I’m not sure this actually means anything. How are the rent changes calculated? How does the data provider account for the big compositional bias underway as new (more expensive) apartments become available and skew the median and the mean? So I would say rents surged BECAUSE of record home building.

It’s not unreasonable for owners of older (less amenity) apartments to try and benefit from the higher comparable pricing - but at the end of the day, if you have more supply than underlying household formation rents will eventually fall.
(S – I) + (T - G) + (M - X) = 0
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Rat
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b_b
19 Jun 2017, 03:28 PM
So I would say rents surged BECAUSE of record home building.
That's part of the reason for the rent surge, but rents in general are also rising.

The ABS CPI index shows actual rents paid (not asking rents) increasing by 2.5% pa in Sydney.

A bit faster this year than last year too, although not as fast as in 2014.

http://www.abs.gov.au/ausstats/abs@.nsf/mf/6401.0

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Edited by Rat, 19 Jun 2017, 07:19 PM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Rufus
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Rat
19 Jun 2017, 07:18 PM
That's part of the reason, but rents in general are also rising. The ABS CPI index shows actual rents paid (not asking rents) increasing by 2.5% pa in Sydney.

A bit faster this year than last year too...

http://www.abs.gov.au/ausstats/abs@.nsf/mf/6401.0
As it has turned out so far, Sydney doesn't have an oversupply. Maybe that will happen, but not yet.

http://www.sqmresearch.com.au/graph_vacancy.php?region=nsw%3A%3ASydney&type=c&t=1

Edited by Rufus, 19 Jun 2017, 07:21 PM.
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