Sydney’s Rental Housing Market Reveals Popular Area: Carlingford Makes the Cut with Abundant Listings and Affordable Rent! – Sydney’s Auction Clearance Rate Hits 72%.

Week’s Key Focus

Sydney Rental Housing Market Survey: Carlingford, Granville, and Wiley Park Emerge as Top Livable Choices!

According to PRD Real Estate’s Affordable & Liveable Rental Guide 2023, Sydney has some neighborhoods with relatively lower rents and abundant housing inventory. Carlingford, Granville, and Wiley Park are the top choices for renting detached houses, while Crows Nest, Summer Hill, and Enfield are the best options for renting apartments.

PRD’s Chief Economist, Diaswati (Asti) Mardiasmo, highlighted Sydney’s advantage of continuous housing supply, making it easier to find suitable rental properties. The report considered crime rates and convenience of amenities in the analysis.

Over the 12 months leading up to June 2023, the median rent for detached houses and apartments in Sydney increased significantly. Carlingford’s median rent for detached houses is $750 per week, with a vacancy rate of 3.6%, Granville’s median rent is $540 per week with a vacancy rate of 0.7%, and Wiley Park’s median rent is $585 per week with a vacancy rate of 0.3%.

Carlingford, with 40.6% Chinese residents, offers lower rents and pleasant living environments, making it one of the most attractive choices in the Sydney rental housing market.

Carlingford

First-time Homebuyers: $10K Subsidy + Stamp Duty Exemption in Carlingford’s Prestigious Blue Jacaranda Community

Auction Results This Week

Sydney: 613 properties were auctioned, with 373 reported results and 271 properties sold, resulting in a clearance rate of 73%. The total auction value was 295,829,044 AUD, with a median house price of 1,390,000 AUD.
Melbourne: 663 properties were auctioned, with 486 reported results and 332 properties sold, resulting in a clearance rate of 68%. The total auction value was 275,843,000 AUD, with a median house price of 1,044,000 AUD.