Rental market conditions may have been mixed across Australia over the past few months, but Sydney has once again managed to hold its own.
While rents were lower in four of the nation's capitals, CoreLogic RP Data figures show that Sydney wasn't one of them. In fact, alongside Melbourne, the New South Wales capital was the only location to have seen its rents increase more than two per cent over the past two years.
Research analyst at CoreLogic Cameron Kusher said: "Sydney, Melbourne and Brisbane continued to record rental rises over the past year however, each city is seeing a slowing in the pace of rental growth relative to 12 months ago."
He believed this trend was a result of a rise in investment stock, which means landlords don't have as much ability to increase rental rates. For those using property management in Carlton, this doesn't seem to be as much of an issue.
The Real Estate Institute of New South Wales also made its own assessment of the current rental market. Its September Vacancy Rate Survey found the number of properties for rent in Sydney increased 0.1 per cent on the previous month.
However, president Malcolm Gunning indicated that the market is still stable. Supply levels are finally starting to meet demand, which also brings good news to landlords in the area.
Low vacancy rates have emerged due to two main factors – the strength of Sydney as a job destination and high levels of migration and supply pressures. This is why the city has maintained its status as a low vacancy environment.
If you're considering an investment in rental property, then property management in Carlton could be a wise move. We'll take charge of the day-to-day running of your real estate, so all you have to do is enjoy the income.