1. Manly Vale: $1,300 (37%)
2. McMahons Point: $1,473 (34%)
3. Lisarow: $680 (31%)
4. Wheeler Heights $1,075 (31%)
5. Matraville $1,200 (29%)
Pretty shocking numbers, right?
These are the Sydney suburbs with the biggest rent rises (over the past 8 months).
Why should you care?
As rents continue to drive up, and sale prices continue to fall…
You make more money in rent, and pay less for a property.
Not a bad deal, right?
Well not only that, there is far less risk. Increasing rental prices means higher occupancy rates…
Which means you’re less likely to have your investment without a paying tenant.
An investment without a tenant means you’re paying for:
And land tax…
All out of your back pocket.
According to PropTrack Senior Economist Eleanor Creagh…
“Over the next couple of months, supply will remain constrained … however investors will continue to be interested in the market, particularly as rental yields continue to strengthen.”
With constrained supply, renters will have fewer places to choose from.
What’s in it for you?
This will lead to even further rental increases…
Here’s some more evidence for my claims:
According to PropTrack, new data reveals the number of days listed on the market hits a historic low (19 days).
PropTrack data has shown that total rental listings in Sydney are now 30 per cent lower than pre-pandemic levels.
Eleanor Creagh also stated that renters may feel pressured as rents rise up 9% compared to 12 months ago.
The number of potential renters per listing increased 46 per cent for units in Sydney, and 14 per cent for houses in July.
Why are there so many more renters?
High returning number of people migrating back to Australia from overseas countries.
Capital cities are becoming increasingly attractive for renters to move to.
And an increase in the number of listings on the market.
Whatever the reason, this is a great opportunity for you to snag your first investment, and create multi-generational wealth.