sydney rent rates.....a joke
Dec 13th 2010, 7:52 am
#1
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Location: Woburn, Wellington
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sydney rent rates.....a joke
While we consider a move to OZ its amazed us what rental charges for house are like in Sydney......
In Wellington we pay NZ$900 for a very large 5 bedroom house that belongs to a very well known NZ sports star and is a very well equipped house in a great neighbourhood.
In the UK we rented a remote huge house while we waited for ours to be built and paid £2000 a month for a place that was like a mansion with 3 acres.
But Sydney take the prize for the price as at the moment we can't find much on the net that looks anything like an attractive large house for less than AU$2000....a week!
So that equates to twice what we pay now and nearly £5000 a month......
How the hell did the rental market get to such inflated prices for what look like mediocre houses?
In Wellington we pay NZ$900 for a very large 5 bedroom house that belongs to a very well known NZ sports star and is a very well equipped house in a great neighbourhood.
In the UK we rented a remote huge house while we waited for ours to be built and paid £2000 a month for a place that was like a mansion with 3 acres.
But Sydney take the prize for the price as at the moment we can't find much on the net that looks anything like an attractive large house for less than AU$2000....a week!
So that equates to twice what we pay now and nearly £5000 a month......
How the hell did the rental market get to such inflated prices for what look like mediocre houses?
Dec 13th 2010, 8:00 am
#2
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Re: sydney rent rates.....a joke
It's one of the reasons I wouldn't even consider living in Sydney!!
Dec 13th 2010, 8:01 am
#3
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Re: sydney rent rates.....a joke
If you want a real joke look at the equivalent sale prices. It's all gone a bit nuts but it will be over soon enough hopefully.
Dec 13th 2010, 9:44 am
#4
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Re: sydney rent rates.....a joke
Sydney is not Wellington and yes I agree it will all be over soon.
Dec 13th 2010, 10:45 am
#6
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Re: sydney rent rates.....a joke
Ho hum, another migrant who sees the reality.
Renting is far cheaper than buying Sydney believe it or not.
The so called high wages here don't mean a damn especially when living costs are high all round. It's very difficult to live cheaply, compared to UK - clothing, food, schooling, medical, services, all add up and there isn't much competition.
The word is getting out, Aus is overpriced, boom or not.
Renting is far cheaper than buying Sydney believe it or not.
The so called high wages here don't mean a damn especially when living costs are high all round. It's very difficult to live cheaply, compared to UK - clothing, food, schooling, medical, services, all add up and there isn't much competition.
The word is getting out, Aus is overpriced, boom or not.
Dec 13th 2010, 11:08 am
#8
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Re: sydney rent rates.....a joke
Every other newbie by the looks of things. 
Trouble is, you can't spin out of this, it is what it is - too damn expensive and migrants will shun Aus or even worse, come here, spend bucketloads setting up and realise they were actually financially better off in UK.
No idea what your 'wink' is about ABCD? Can you clarify please?
Trouble is, you can't spin out of this, it is what it is - too damn expensive and migrants will shun Aus or even worse, come here, spend bucketloads setting up and realise they were actually financially better off in UK.No idea what your 'wink' is about ABCD? Can you clarify please?
Dec 13th 2010, 11:39 am
#9
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Re: sydney rent rates.....a joke
April 18, 2010
THE average Sydney house renter is paying about $110 more a week than they were five years ago.
In 2005 the median rental rate across the Sydney metro area was about $340 a week, about two thirds of the current average rental rate of $450 a week.
http://theage.domain.com.au/unit-dwe...0419-soj1.html
THE average Sydney house renter is paying about $110 more a week than they were five years ago.
In 2005 the median rental rate across the Sydney metro area was about $340 a week, about two thirds of the current average rental rate of $450 a week.
http://theage.domain.com.au/unit-dwe...0419-soj1.html
Dec 13th 2010, 11:45 am
#10
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Re: sydney rent rates.....a joke
Who is trying to spin anything ? Have I ever said it is cheap ?
What I have said is that prices will stay high for as long as people are prepared to pay the premium for what they want. Which is actually the same as you saying "it is what it is". Pretty similar really if you stop to think about it
However, in the areas of Sydney that are NOT the premium areas, prices are still only about the same as they were back in 2004, following the price drops that they have already had there.
With the current value of the £, anyone from the UK relying on £'s, and not A$'s, must think seriously about how far their £'s will go. The £ isn't worth what it used to be.
What I have said is that prices will stay high for as long as people are prepared to pay the premium for what they want. Which is actually the same as you saying "it is what it is". Pretty similar really if you stop to think about it
However, in the areas of Sydney that are NOT the premium areas, prices are still only about the same as they were back in 2004, following the price drops that they have already had there.
With the current value of the £, anyone from the UK relying on £'s, and not A$'s, must think seriously about how far their £'s will go. The £ isn't worth what it used to be.
Dec 13th 2010, 11:50 am
#11
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Re: sydney rent rates.....a joke
April 18, 2010
THE average Sydney house renter is paying about $110 more a week than they were five years ago.
In 2005 the median rental rate across the Sydney metro area was about $340 a week, about two thirds of the current average rental rate of $450 a week.
http://theage.domain.com.au/unit-dwe...0419-soj1.html
THE average Sydney house renter is paying about $110 more a week than they were five years ago.
In 2005 the median rental rate across the Sydney metro area was about $340 a week, about two thirds of the current average rental rate of $450 a week.
http://theage.domain.com.au/unit-dwe...0419-soj1.html
What about mortgage versus rent. Plenty of Sydney posters on here have said they are paying $500 a week rent on an apartment that would cost them $1200 to purchase. They are putting away the extra $700 in a savings account or investments.
Dec 13th 2010, 12:09 pm
#12
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Joined: Jan 2009
Posts: 1,157
Re: sydney rent rates.....a joke
While we consider a move to OZ its amazed us what rental charges for house are like in Sydney......
In Wellington we pay NZ$900 for a very large 5 bedroom house that belongs to a very well known NZ sports star and is a very well equipped house in a great neighbourhood.
In the UK we rented a remote huge house while we waited for ours to be built and paid £2000 a month for a place that was like a mansion with 3 acres.
But Sydney take the prize for the price as at the moment we can't find much on the net that looks anything like an attractive large house for less than AU$2000....a week!
So that equates to twice what we pay now and nearly £5000 a month......
How the hell did the rental market get to such inflated prices for what look like mediocre houses?
In Wellington we pay NZ$900 for a very large 5 bedroom house that belongs to a very well known NZ sports star and is a very well equipped house in a great neighbourhood.
In the UK we rented a remote huge house while we waited for ours to be built and paid £2000 a month for a place that was like a mansion with 3 acres.
But Sydney take the prize for the price as at the moment we can't find much on the net that looks anything like an attractive large house for less than AU$2000....a week!
So that equates to twice what we pay now and nearly £5000 a month......
How the hell did the rental market get to such inflated prices for what look like mediocre houses?
Dec 13th 2010, 5:44 pm
#13
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Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: sydney rent rates.....a joke
I don't think it's about not wanting to spend money it's about wanting to spend it on something other than rent or mortgage payments i.e. having a lifestyle. That's why I moved back to London.
Dec 13th 2010, 6:21 pm
#14
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Joined: Dec 2010
Posts: 2
Re: sydney rent rates.....a joke
April 18, 2010
THE average Sydney house renter is paying about $110 more a week than they were five years ago.
In 2005 the median rental rate across the Sydney metro area was about $340 a week, about two thirds of the current average rental rate of $450 a week.
http://theage.domain.com.au/unit-dwe...0419-soj1.html
THE average Sydney house renter is paying about $110 more a week than they were five years ago.
In 2005 the median rental rate across the Sydney metro area was about $340 a week, about two thirds of the current average rental rate of $450 a week.
http://theage.domain.com.au/unit-dwe...0419-soj1.html
Dec 13th 2010, 9:37 pm
#15
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Location: Hope Island, Gold Coast
Posts: 1,920
Re: sydney rent rates.....a joke
But Sydney take the prize for the price as at the moment we can't find much on the net that looks anything like an attractive large house for less than AU$2000....a week!
So that equates to twice what we pay now and nearly £5000 a month......
How the hell did the rental market get to such inflated prices for what look like mediocre houses?
Bottom line is the cost of housing will deter many potential migrants, as I've said before I don't know how newcomers on anything like the average wage manage in Sydney.