Sydney’s Inner-City Vacancies Could Tighten
The rental market is set to feel a supply squeeze.
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Finding an inner-city rental is set to become increasingly difficult as the number of vacancies in Sydney’s inner suburbs is set to tighten as a number of investors look to sell their properties to take advantage of rapidly rising prices.
According to data from suburbtrends.com more than one in three (34%) of properties listed for sale in Leichhardt, in Sydney’s inner west, are ex-rental homes – the highest proportion of investment properties currently on the market in a given area.
North Sydney and Mosman fared similarly with one in four (25%) properties listed ex-rentals, the eastern suburbs presented 28% in the month of March.
Of course, if the bulk of homes being bought are to be turned into owner-occupiers, there will be some flow-on effects to the rental market.
Further, 14% of the Perth city market and 5% of the Melbourne city market are ex-rentals.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
