Landlords advised Sydney eastern suburbs rental increases weakening: BradfieldCleary
Sydney eastern suburb rental growth is slowing, according to the latest rental report of BradfieldCleary which looks at rental trends in Sydney's eastern suburbs.
The latest analysis covers 50 properties re-let during June and July this year.
Some 25 showed an increase, seven remained steady, but 18 rents decreased.
"The overall increase of 0.8% shows the slowest growth since we started tracking the figures two years ago," Bob Guth from BradfieldCleary noted.
Below is set out a summary of the tables we have published previously.
November 2011 | +13.5% |
May 2012 | +7.75% |
July 2012 | +2.66% |
October 2012 | +4.14% |
February 2013 | +2.75% |
July 2013 | +0.8% |
"It is easy to see the rate of growth in rents has slowed but looking behind the figures the reality is tenants are becoming more and more sophisticated and seeking a higher quality of abode.
"Fifteen year old carpet and thirty year old kitchens are not popular and nor is a scruffy old bathroom and peeling paint.
"Perhaps it’s time to renovate," Guth advised his landlords.
PROPERTY | PREVIOUS | NEW | % DIFFERENCE |
RENT | RENT | ||
Stephen Street, Paddington | $300 | $300 | 0.00% |
Hopewell Street, Paddington | $325 | $335 | 3.10% |
Ramsgate Avenue, Bondi | $260 | $360 | 38.50% |
St Neots Avenue, Potts Point | $350 | $375 | 7.10% |
Manning Road, Double Bay | $415 | $395 | -4.80% |
Darling Point Road, Darling Point | $420 | $405 | -3.60% |
Bellevue Road, Bellevue Hill | $400 | $420 | 5.00% |
Botany Street, Bondi Junction | $380 | $420 | 10.50% |
Ramsgate Avenue, Bondi | $500 | $430 | -14.00% |
Bellevue Road, Bellevue Hill | $400 | $430 | 7.50% |
Manion Avenue, Rose Bay | $480 | $440 | -8.30% |
Ethel Street, Randwick | $410 | $450 | 9.80% |
Edgecliff Road, Woollahra | $420 | $450 | 7.10% |
Edgecliff Road, Woollahra | $430 | $450 | 4.70% |
Edgecliff Road, Woollahra | $440 | $450 | 2.30% |
Victoria Road, Chatswood | $490 | $480 | -2.00% |
Salisbury Road, Rose Bay | $520 | $485 | -6.70% |
Hopetoun Street, Paddington | $460 | $495 | 7.60% |
Balfour Road, Rose Bay | $500 | $495 | -1.00% |
Hastings Parade, Bondi Beach | $480 | $500 | 4.20% |
Bronte Road, Bondi Junction | $450 | $515 | 14.40% |
New South Head Road, Double Bay | $500 | $540 | 8.00% |
Bent Street, Paddington | $570 | $550 | -3.50% |
New South Head Road, Double Bay | $550 | $550 | 0.00% |
Court Road, Double Bay | $550 | $550 | 0.00% |
Ethel Street, Randwick | $450 | $550 | 22.20% |
Darling Point Road, Darling Point | $595 | $560 | -5.90% |
William Street, Double Bay | $550 | $595 | 8.20% |
The Avenue, Rose Bay | $495 | $595 | 20.20% |
Beresford Road, Rose Bay | $650 | $600 | -7.70% |
Bennetts Grove Avenue, Paddington | $570 | $605 | 6.10% |
Macpherson Street, Bronte | $750 | $660 | -12.00% |
Victoria Road, Bellevue Hill | $680 | $660 | -2.90% |
Market Street, Sydney | $680 | $680 | 0.00% |
Paul Street, Bondi Junction | $670 | $695 | 3.70% |
Birrell Street, Bronte | $780 | $695 | -10.90% |
Mclachlan Avenue, Rushcutters Bay | $700 | $720 | 2.90% |
Bowden Street, Woollahra | $750 | $770 | 2.70% |
Bellevue Road, Bellevue Hill | $800 | $775 | -3.10% |
Beresford Road, Rose Bay | $750 | $795 | 6.00% |
Wolseley Road, Point Piper | $870 | $800 | -8.00% |
Wallaroy Road, Woollahra | $810 | $820 | 1.20% |
Wiston Gardens, Double Bay | $850 | $830 | -2.40% |
Edgecliff Road, Edgecliff | $995 | $930 | -6.50% |
Cascade Street, Paddington | $920 | $995 | 8.20% |
Albert Street, Edgecliff | $1,000 | $1,000 | 0.00% |
Heeley Street, Paddington | $1,050 | $1,050 | 0.00% |
Blackwood Avenue, Clovelly | $1,030 | $1,050 | 1.90% |
Hopewell Street, Paddington | $1,149 | $1,095 | -4.70% |
Evans Street, Bronte | $1,700 | $1,700 | 0.00% |
OVERALL | 0.80% |
Photo of eastern Sydney courtesy of Glen Scarborough/flickr.