Rental range relatively tight in Parramatta: rent.com.au insight

Rental range relatively tight in Parramatta: rent.com.au insight
Rental range relatively tight in Parramatta: rent.com.au insight

Sydney’s Parramatta finished third on the list of most searched suburbs in 2015 compiled by rent.com.au, with median rents within the last 30 days at $460 per week, a rise of 2.2 percent over the last quarter.

The price range was relatively tight though, with $200 for a one-bedroom dwelling at the low end and $600 for a 5+ bedroom dwelling at the top end, the data from rent.com.au showed.

However, Parramatta’s median rental growth fared better than surrounding suburbs — Rydalmere, Oatlands, Granville, Holroyd, Mays hill, Westmead, Harris Park, North Parramatta and Merrylands, which was flat at $430 per week for the comparable 30-day period as well as over 90 days, the data showed.

Parramatta also fared better than surrounding suburbs for average days on market, which was 32 compared to 37 for bordering suburbs. The number was also down by eight days from the last quarter.

There were a total of 120 rental properties advertised in Parramatta within the last 30 days, up 13 from the previous 30 days.

Though the median rent for the last 30 days rose 2.2 percent, the graph for the six months till January is absent of clear peaks or troughs, both for apartments and houses.

There are a total of 4,372 rental properties in Parramatta, making up 61.6% of all properties in Parramatta (ABS, Census Data, 2011).

Nearly 80 percent of all dwellings in the suburbs are apartments, with the rest houses, the data showed.

Property Observer found these two recent examples, one a unit and the other a townhouse, on rent.com.au

Rental range relatively tight in Parramatta: rent.com.au insight

1. A two-bedroom unit with a garage at 1/16-20 Lansdowne Street (above) is available for $460 per week.

 2. A two-bedroom full brick townhouse on 9/485 Church Street (below) has been advertised for $420 per week.

Rental range relatively tight in Parramatta: rent.com.au insight

The ASX-listed Rent.com.au Ltd achieved a record 615,405 unique visitors to its website in January, followed by more than 610,000 unique visitors in February.

Landlords are able to list their property for free in a limited time offer on rent.com.au

 

Tags: 
Rental Property Parramatta

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