Stable tenants, slim pickings and eastern suburb rents edge slightly higher: BradfieldCleary analysis

Despite the rush back into property investing by investors, it was interesting to note that BradfieldCleary's available to let list had "never had less property to offer" for tenants.

The eastern suburbs agency which has an impressive rent roll had just the 19 recent rental renewal examples that reflected an overall 3.5% growth above their prior (unspecified date) rental.

There were however six rentals where no growth was achieved by the landlords, including tenancies in Double Bay, Bondi and Darlinghurst.

The highest growth was almost 17% in Plumer Road Rose Bay, which has come a long way over the past two decades. 

I saw that one rental went backwards on Edgecliff Road, Woollahra. Previous reports by estate agent Bob Guth had ever higher reversal numbers.

Sydney eastern suburb rental growth had been  slowing, according to the August 2013 rental report which covered 50 properties re-let during June and July last year.

In that report some 25 showed an increase, seven remained steady, but 18 rents decreased.

news@propertyobserver.com.au

                      

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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