Sydney Rent

[FishFace]

I was talking to a few people about rents being so high.

Does anyone know anything about the market?
Is it supposed to keep getting higher or do they forecast it to go down? Does anyone know?

I dont want to pay over $500 in rent but looks like thats the way we will have to go.
We also own a house so I am hoping that houses in brissy go through the roof ...and soon!!!!!
Mortgage and Rent is just a nightmare.

[ealing]

hi Sassafras,

I would imagine not just Sydney, but pretty much everywhere that if you can't afford to buy your own home (and due to the increasing interest rates) it will force people to continue to rent or to turn to renting if they can't meet the financial committments of their home loan if they don't down size their property or somethng like that.

If there is an increase in demand for rentals and a limited supply, prices tend to be driven upwards to decrease demand in the rental arena.

In terms of buying your own house, the prices are driven by the consumer. If everyone seems to think that paying an overinflated price for a place is ok, then that is the way the market will go due to the growing consumer confidence. One of the ways that the housing prices go down are a decrease in consumer confidence, that meaning that consumers realise that it really isn't worth paying so much for a house when it is really worth a less amount.

My friend just came back from renting in Sydney. She used to live in Balmain East and was paying $350 for a 2 bedroom apartment. I think that after she moved out, the price escalated closer to $400 a week for it.

hope that this helps a bit and good luck.

[Ashleigh<3]

Eh, tell me about it.

We decided we'll be buying our first property on the central coast because it will be just way too expensive if we do it the other way around.

Renting in Sydney is basically impossible, (yes, the prices are outrageous too), but the availability is limited.

[ThomasMum]

Depends which part of Sydney. The western suburbs are ussualy cheaper. And unfortunately the rental cost will only go up...

[blackdog]

who'd wanna live in Sydney, anyway?

[mumnbub]

why not move just outside of sydney like the illawarra area like wollongong you have the best of both worlds your close to sydney (by train) and you can live near (if not in front of) the beach without paying through the nose in sydney and you dont have the crowds

[FishFace]

why not move just outside of sydney like the illawarra area like wollongong you have the best of both worlds your close to sydney (by train) and you can live near (if not in front of) the beach without paying through the nose in sydney and you dont have the crowds

Yes true.
But DS goes to school here and all my family are here so ..I guess its just life huh?
Its ok we might have found a place and its cheaper and bigger!!!