It’s not all doom and gloom in Sydney’s cooling property market – especially not for investors! For those landlords savvy enough to snap up a property in the following suburbs, high demand has driven rental returns sky-high over the past 12 months.
Take a look at some of the most popular rental suburbs in Sydney, where median rent growth has outpaced all expectations, and landlords are reaping the benefits…
In Little Bay, 14 kilometres south-east of the city the median rent for houses has gained 26.4 per cent over the past year, and now sits at $1100 per week. It’s a peaceful coastal suburb, just north of Botany Bay, a real hidden gem that has yet to feel the full force of the real estate boom.
The semi-circular beach at Little Bay is well-shielded from the rough conditions elsewhere in the Tasman, making it a popular spot for swimming, snorkelling and rock fishing. With plenty of fantastic restaurants, schools and amenities, family homes are in high demand. This three bedroom home on Reservoir Street boasts amazing views, and is currently available for rent for $1150 per week. Properties in Little Bay are vacant for around 20 days before new tenants are secured, so this home isn’t likely to be empty for long!
On the Lower North Shore, 7 kilometres from the CBD, Northbridge attracts a slightly older demographic than the nation median, and they bring with them larger-than-average income. That explains why the median rent for houses in Northbridge is a cool $1525 per week!
Home to the Sydney Church of England Grammar School, as well as a marina and a golf course with Harbour views, it’s the suburb of choice for high-rolling renters, and rents have increased by almost 30 per cent since 2017. This Minnamurra Road property, listed for rent at $1500 per week, has all the features a discerning Northbridge family expects: two living zones, four bedrooms, a modern kitchen and room for outdoor entertaining.
With a median rent of $1095 per week, Terrey Hills – located 25 kilometres north of the city centre – is a little slice of green in the sprawling Sydney landscape. Bordering on the Kuring-gai Chase National Park, it’s a leafy locale with a lot to offer family tenants, including the Sydney Japanese School and German International School.
The median rent has increased by 25.9 per cent in Terrey Hills over the past 12 months, up from $870 this time last year. The inclusion of a fantastic pool makes this Cowrang Avenue home a little pricier than the median Terrey Hills rental – prospective tenants can expect to pay $1250 per week to live here.
Situated 9 kilometres north-west of the CBD, Hunters Hill is an affluent suburb popular with celebrities and politicians, and the rental market is on fire! Houses rent for a median of $1195, up 23.2 per cent from last year, and take around 37 days to find new tenants. Even older homes come with a premium price tag here, as this Blaxland Street property demonstrates.
It’s far from modern, but with three bedrooms and easy access to desirable amenities, it can command $900 per week in rent. There are plenty of heritage-listed properties in Hunters Hill, and parks and nature reserves abound, so family homes with the mod-cons posh parents crave are a good investment in this suburb.