July 16, 2019
RENT'S NO LONGER TOO DANG HIGH:
Apartment oversupply puts squeeze on rents (Nigel Gladstone, July 14, 2019, SMH)
An investor-led building boom has almost doubled the size of the Sydney apartment rental market in two years, forcing landlords to drop rents more than $100 a week in some areas to secure tenants, and casting a shadow over the thousands of units still under construction.The number of flats listed on real estate websites to rent has more than tripled in 15 postcodes, including around Gordon, Miranda, Botany, Sutherland and Homebush. This oversupply has left some areas struggling to find tenants, rental bond data shows.
Posted by Orrin Judd at July 16, 2019 5:34 PM