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25 Aug, 2020

How Much Does It Cost to Rent a House in Sydney?

Sydney, the capital city of New South Wales, Australia, is one of the best cities to move if you want to enjoy high-end amenities with standard living. It is the largest city in the country, renowned for luxurious apartments, booming commercial market, world-class education facilities, medical facilities, top-notch infrastructure developments, golden beaches, spacious parks, museums, and much more.

It is home to Sydney Harbour Bridge, Opera House, The Royal Botanic Garden, The Sydney Tower Eye and much more. There is no denying the fact that the intricate amalgamation of water and high-rise buildings leaves a great impression.

If you are planning to move to this beautiful city, do proper research about the residential property market. According to stats, Sydney is one of the most expensive cities when it comes to buying a home. To enjoy this dynamic and cosmopolitan city, you can opt for rental properties in and around Sydney. Most people have moved from CBD to small towns and suburbs with the assistance of professional removalists in Sydney – thanks to the well-developed facilities with competitive rents for residential properties.

To help you know the cost to rent a house in Sydney, we bring you an article which includes important information on Residential Tenancy Market, Median rent of a house and most affordable suburbs to live.

Let’s Get Started!

Sydney’s Residential Rental Market

Sydney’s residential property market has seen a drop in rent prices by more than $100 due to the COVID-19 pandemic. Tenants are returning to their homes or sharing rental costs with others to reduce the burden.

Recent research revealed that the current rental vacancy rate in Inner Sydney is around 13.8 % while the last year vacancy rate was 6.5 per cent. Weekly rental prices in Inner Sydney or CBD have dropped by $100 – a week as compared to 2019.

This clearly states that there is scope in terms of vacancy rates for tenants in Sydney to negotiate a lower rent if they want an affordable rental property in the hotspots of NSW’s capital city. According to property experts, this is a golden opportunity and the best time to move because they have never seen anything like this.

For the first time, the Sydney Residential Rental Market has allowed tenants and renters to choose and pick a suitable rental house for their family. If you are moving to Sydney, make sure you plan things ahead of time and do thorough research about the market. This will help you move quite easily. For the safety of your household belongings, hire the best removalists in Sydney. They will take extreme care of your precious possessions and keep them intact throughout the relocation journey.

Apart from Sydney’s Central Business District, there are a few other places that are a bit affordable by $100 or more. This means you could get a better place to live for the same rent price- which is cheaper as compared to 2019.

The changes within Sydney’s rental property market are being caused due to the COVID-19 pandemic because renters are going back to their home towns. Some people are also moving in with other tenants as they don’t have enough money to pay monthly rents.

If you are relocating to this city, you have a great opportunity to live close to CBD because the rent prices have dropped in the past few months. However, you can also search for the affordable suburbs to rent in Sydney for better and most suitable options.

Cheapest Suburbs to Rent in Sydney

It is always good to rent in affordable areas if you want to enjoy your saving instead of making repayments. Here is the list of affordable suburbs to rent in the capital city of New South Wales, Australia:

1. Blackett

Situated 47 km from the central business district, Blackket is a beautiful suburb where the median rent of a house is $340 per week. The suburb has everything from affordable housing options to nearly public schools, medical facilities to parklands. One of the key benefits is that it is close to the M4 motorway and Great Western Highly to give you easy accessibility to the city.

The public transport is also strong here in Blackett. If you are looking for an affordable suburb to rent, then look no further than Blackett. The suburb is ideal for families with kids, young couples, professional workers, single parent and retired couples.

2. Lethbridge Park

The median rent of residential property in Lethbridge Park is also $340 per week. If you want to move to a visually intriguing place with a ton of public and private schools, then choose this suburb. It is nestled in the LGA of Blacktown and offers high-end local amenities, best housing options and a strong commercial market.

The suburb has lots of spacious parks for kids to play with very little traffic. It is a peaceful, spacious and family-oriented suburb in Sydney. You can also find various culinary options, shopping centres, fancy retail stores, and much more.

If planning a move in the middle of COVID-19 pandemic, consider hiring professional Sydney Removalists for a safe and sound experience.

3. Whalan

Best known for affordable living, beautiful landscapes and spacious residential properties, Whalan is a small yet beautiful suburb of Sydney, NSW. The median rent of a house is $350 per week, which is quite cheap for couples with children. It offers a great blend of greenery, theme parks and residential areas.

There is also a spacious reserve in the suburb which is perfect for kids to play. You can also enjoy close proximity to the Mount Westfield Shopping Centre, stylish restaurants, cafes and other entertainment hubs if you move into Whalan.

Budgewoi

It is a beachside suburb of Sydney which is a perfect location for families with kids. The average rent of a house in Budgewoi is $365 per week. The suburb allows you to enjoy a coastal lifestyle, best culinary delights, art and music scenes, stylish cafes and much more. It is close to the M1 so that you can travel to Sydney and Newcastle for work without any difficulty.

If you love beautiful beaches, Bugewou can be an ideal place for you. Plus, you will get affordable rental housing options without a hint of stress.

Gorokan

Are you looking for an apartment to rent in the hotspots of Sydney? Look no further than Gorokan. It is a beautiful suburb that gives you an option to enjoy your weekends by surfing the neighbouring lakes and patrolled beaches, fishing and swimming.

The median rent price of an apartment in this suburb is $330. Gorokan offers lakeside views, shopping centres, medical facilities, public transport, schools, and is quite an affordable suburb to rent.

Conclusion

The rent prices in Sydney have fallen by $100- a week for the first time in the past few years. This happened due to COVID-19 pandemic as tenants returning to their home while some are sharing costs with other tenants. If your income or living arrangements have not affected by this virus, then you can move to these suburbs.

You can plan things accordingly and don’t forget to hire the best removalists in Sydney for a local move. Even if your living arrangements are not much affected by COVID-19, you can talk to their landlords about reducing monthly rents.