• info@wstowncountry.com.au

Sydney rental market in 2023 / 2023年悉尼房产租赁市场

  • Home
  • Sydney rental market in 2023 / 2023年悉尼房产租赁市场
Tue 02
Sydney rental market in 2023 / 2023年悉尼房产租赁市场

This year is a challenging one for Sydney renters but the tight conditions could turn into a “nightmare” early this year as more tenants seek new rentals in an already tightly supplied market.

Figures released by research just 1.4 per cent of all Sydney rental accommodation was available for lease at the end of 2022. There was just shy of 20,000 rentals up for lease but the supply has shrunk to just 10,000 properties. The shortage has put on renter budgets with the average price of rental accommodation surging nearly 30% annually, research revealed.

Owner of Town & Country Real Estate Peter Detong said “The rental market remains in favour of landlords,”, and “The immediate outlook is ongoing extreme tightness in the rental market.”

He said rental demand would surge after the holidays ended. “February/March tends to be a very seasonally difficult time for tenants looking for rental properties,” Mr Detong said.

“Given the already low rental stock on the market, early 2023 could be a nightmare for would be tenants.” In some areas, there are more tenants looking for homes than available rentals. Challenging conditions for tenants may only pass once more housing stock is added to the market, Mr Detong said.

“There might be some light at the end of a very long tunnel given expected rises in dwelling completions over 2023 and a possible return of short term leased properties back into the long-term market if the economy does cool,” he said.

The Sydney CBD, which was a tenant’s market during the early part of the Covid pandemic, was one of the biggest markets where vacancies dropped. CBD vacancy rates were over 10 per cent in 2020 and 2021 but have since dropped to 3.2 per cent – roughly in line with pre-pandemic levels.

Rising migration into Sydney poses a major challenge for the CBD and inner city rental market over this year given the low supply of available housing. Many landlords who had owned inner city apartments sold them during the early pandemic and the supply of rentals remains much lower than before the pandemic.




Town & Country Real Estate地产Peter Detong表示: 租赁市场仍然处于有利于业主,近期的前景是租赁市场持续极度紧张。假期结束后租赁需求将激增,对于寻找出租物业的租户来说,2月/3月往往是一个非常季节性的困难时期。