Sydney’s most affordable rental markets within 22 miles of the city

New research from rental review site RentRabbit.com.au has revealed the 20 best tenant-friendly rental markets within an easy commute to Sydney’s CBD.

Each of the unit markets listed in RentRabbit’s quarterly Tenant Opportunity Report is within 22 miles of the city and has average rents of $410 or less per week, with many seeing a rent reduction from last year’s figures.

The mentioned suburbs also have a middle socio-economic ranking or higher, which adds to their desirability.

It comes at a time when rents are skyrocketing in much of Sydney, with economists predicting an additional 7-10 percent growth for the winter ahead.

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Roselands ranked the most renter-friendly market in the report, with average rents falling from $340 a week in July last year from $340 a week in July last year.

Roselands is 8 miles from the city, close to Wiley Park and Beverly Hills train stations, with easy access to major arterial roads.

Tempe came in second, with a median rent of $20 a week from last year’s figures to a new median of $340. The suburb is only 8 km from the CBD and has a high socio-economic ranking.

Harris Park in western Sydney had an average unit rent of $350 per week, while Croydon Park was slightly more at $360.

Rosehill and West Ryde both had average weekly rents of $370.

Ben Pretty, co-founder of RentRabbit.com.au, said that while landlords prevailed in most parts of Sydney, the rankings showed it was possible to find quality rental accommodation at a reasonable price.

“Over the past year, Sydney’s rental market has really tightened, which has translated into a

increase in market power for landlords,” he said.

“That has led to a sharp rise in rents in many suburbs and, unfortunately, to a lowering of housing standards as landlords put less effort into attracting and retaining tenants.”

He said it has become more difficult for lower-income families to find suitable and affordable accommodation near the CBD.

“Data from the Australian Bureau of Statistics and the Housing Industry Association suggest

there are many new homes in the pipeline,” he said.

“That new construction cannot happen fast enough, because the only way to reduce the unhealthy demand that we are now seeing in the rental market is to increase the supply of rental properties.”

Top 20 ranking suburb and median weekly rent (units)

1 Roseland $340

2 Tempe $340

3 Harris Park $350

4 Croydon Park $360

5 Rose Hill $370

6 West Ryde $370

7 Norway $370

8 Penshurst $375

9 Pendle Hill $380

10 Glenfield $380

11 Concord West $380

12 North Parramatta $390

13 Mortdale $390

14 Prospect $390

15 Seven Hills $400

16 Bardwell Park $400

17 Kingsgrove $400

18 Telope $400

19 Bexley $400

20 Northmead $410

Source: RentRabbit.com.au Rental Opportunity Report

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Originally published as Sydney’s most affordable rental markets within 22 miles of the city

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