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Sydney sees high rent growth

By Louise Morrin

As an investor of a property in St George, the amount you charge your tenants is extremely important. After all, rent from your property is a source of income for you. 

Fortunately for investors, Sydney is home to some of the highest rents in the country. 

Figures recently released from SQM Research show that over July, weekly rents for Sydney houses reached $671. Meanwhile, units across the Sydney region were recorded at $473 per week. 

For anyone searching for an investment property in the Sydney area, houses appear to be the more lucrative option. Over the 12 months to July 2014, rent for houses grew the most at six per cent. On the other hand, units saw a smaller rise of 3.7 per cent over the same period. 

Sydney was second only to Darwin, which saw rental figures for houses reach $732. Despite this, Sydney is still well above national levels, which were $408 for houses and $336 for units. 

The Sydney region was also a strong performer for vacancy rates, with only 1.8 per cent of vacant rental properties on the market. While Darwin beat Sydney to the punch once again, this is still a strong result. 

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