Where is the cheapest place to rent in Sydney? (photo from Domain)
Although the overall level of rents for Sydney apartments and stand-alone homes remained unchanged in the second quarter of this year, prices fell in some areas, while rental properties in some low-key urban areas were more valuable than those in the adjoining districts, according to Domain.
Powell (Nicola Powell), a data analyst at Domain Group, said a city rent offer was influenced by a combination of supply and demand, popularity and connectivity to infrastructure.
Powell points out that tenants can have cheaper options if there are multiple rental types in the city. Take Sydney's lower north shore, where the average weekly rent for an independent house is A $1050, but the average weekly rent for an apartment is A $600.
As a result, finding a cost-effective rental could mean living on the edge of the city, farther from the railway station, or switching from a separate house to an apartment.
The average weekly rent for a separate house in downtown Sydney and East is A $1040. The cheapest urban areas in the region are Waterloo (Waterloo) and Musco (Mascot), which offer an average weekly rent of A $750 and A $760, respectively. The most valuable area in the region is the East Lake (Eastlakes), apartment, where the average weekly rent is A $480, and the Lashcatz Bay (Rushcutters Bay) apartment is also a good bargain, with an average weekly rent of A $500.
Carino (Maria Carlino), director of property management at The Agency, a real estate broker, said it all depended on supply and demand. Major developments on Sydney's north shore, down shore and northwest four to six years ago are finally completed, all of which are flooding into the market at the same time, with an impact on rental prices.
Carino revealed an extension of the listing time for leased properties, which typically took 11 to 12 days to find tenants six weeks ago, and now extends to 20 to 21 days.
Powell said it is important to understand the reasons for rent differences for tenants who want to find cheap rental properties. It could be a distance from the sea, or it could be a distance from a transportation hub. Tenants pay A $875 a week to rent a stand-alone house outside (Dee Why), compared with A $790 for (Narraweena) in the next town of Nararina.
Where is the cheapest place to rent in Sydney? (photo from Domain)
Where is the cheapest place to rent in Sydney?
Blue Mountain region (Blue Mountains)
Stand-alone weekly rent: $450
The best value for money in the city: $400 a week for BlackHeath (Blackheath),
Canterbury-Pennsylvania area (Canterbury Bankstown)
Stand-alone weekly rent: $550
The best value for money in the city: Regent Park (Regents Park), rents A $480 a week
Apartment week rent: $440
The best value for money in the city: $380A per week for (Lakemba), in Laikambe
Central Coast region (Central Coast)
Stand-alone weekly rent: $440
The best value for money in the city: $360A per week for Bajivaui (Budgewoi) and Goloken (Gorokan),
Apartment week rent: $370
Most value-for-money urban areas: $300 per week for long dike (Long Jetty) and Umina Beach (Umina Beach),
(City and East), downtown and eastern Sydney
Stand-alone weekly rent: $1040
The best value for money in the city: $750A per week for Waterloo (Waterloo),
Apartment week rent: $660
The best value for money in the city: $480A per week rent at (Eastlakes), East Lake
(Inner West), inner west side, Sydney
Stand-alone weekly rent: $780
The best value for money in the city: $600 per week for Croyton Park (Croydon Park),
Apartment week rent: $560
Best value for money: Concord West (Concord West) & Croyton Park, $420 per week
Sydney, North Coast, (Lower North Shore).
Stand-alone weekly rent: $1050
The best value for money in the city: $750A per week for (Gladesville), in Grezville
Apartment week rent: $600
The best value for money in the city: $550A per week rent at Hunter Hill (Hunters Hill),
Northwest Sydney (North-West)
Stand-alone weekly rent: $625
The best value for money in the city: $515 per week for Northmie (Northmead),
Apartment week rent: $510
The best value for money in the city: North Balamata (North Parramatta), weekly rent A $425
(South), Sydney South
Stand-alone weekly rent: $650
The best value for money in the city: $550 per week for Neville (Narwee),
Apartment week rent: $520
The best value for money in the city: $390 per week for (Cronulla), Curunura
(South West), southwest Sydney
Stand-alone weekly rent: $470
The best value for money in the city: $380A per week for Lemmy (Leumeah),
Apartment week rent: $380
The best value for money in the city: $300 per week for Kalama (Carramar),
Sydney up North Bank, (Upper North Shore).
Stand-alone weekly rent: $795
The best value for money in the city: $570A per week for Asquis (Asquith),
Apartment week rent: $550
The best value for money in the city: $475 per week at Conseby's (Hornsby),
(West), West Sydney
Stand-alone weekly rent: $460
The best value for money in the city: $320 per week for Wilmot (Willmot),
Apartment week rent: $450
The best value for money in the city: $300 a week for (Werrington), in Wellington