Nothing to rent
Nothing to rent. Image – Canva
  • In a tightening rental property market, 10 Sydney suburbs have nothing available
  • As prices for dwellings rises, this is becoming a problem for home seekers
  • All of the 10 have traditionally low vacancy rates, but are now zero

Across the country, there are 77,000 properties available for rent, according to SQM Research – however, in a tightening market, there are several suburbs and regions where there are simply no vacancies at all.

With a booming, and more expensive property market, how can home seekers even find somewhere to live, if they are priced out of the sales market, and with no rentals available?

This time last year, there were more than 105,000 rentals vacant in Australia, so overall there’s been a 27% drop in availability.

Looking into our largest city, Sydney, where the rental vacancy rate overall has recently dropped below 3%, there are ten suburbs where there are simply no available rentals at all.

In a city, where the median price has now reached $1.3 million, and in a state where the average dwelling price has breached the $1 million figure, this is a problem.

The ten Sydney Suburbs with no rentals

According to SQM Research data, the following ten Sydney postcodes have no rental properties on the market, as of the week of 9 June:

Postcode Suburb 1 year ago 3 years ago
2559 Claymore 0.70% 0.10%
2258 Palmdale 1.30% 1.80%
2779 Hazelbrook 1.40% 1.00%
2776 Faulconbridge 0.80% 0.80%
2752 Silverdale 1.50% 3.00%
2172 Pleasure Point 0.50% 1.20%
2786 Mount Wilson 0.70% 2.90%
2775 Wisemans Ferry 3.70% 4.30%
2778 Woodford 1.10% 1.10%
2784 Bullaburra 1.50% 2.70%

Source: SQM Research

 

By comparison, these suburbs had low vacancy rates a year ago as well, averaging 1.3% vacancy. Three years ago, their combined average was 1.9%.

So, the trend has been down, as people are snapping up rentals almost as they come on the market, and perhaps not being able to break into the sales market.

A quick search of some of the property managers who work in these areas showed that there was virtually nothing on the market for the upcoming week as well. It is extremely tight in these areas, and the situation shows no signs of abating.

Claymore

Claymore is located 54 kilometres south-west of Sydney, in the local government area of the City of Campbelltown. The majority of housing in Claymore is owned by Housing NSW. It had 7 rentals available in April, 3 in May, and none by June.

Hazelbrook

Hazelbrook is 93 kilometres west of Sydney in the Blue Mountains on the Great Western Highway, with a population of under 5,000 (2016 census).

There were 3 vacancies in April, 2 in May, and also none in June.

Pleasure Point

Closer to the Sydney CBD, Pleasure Point (2172) is in the south-western part of the metro area, 27 kilometres from the city centre. Its vacancy rate was been around 1% or less for years and has fallen to zero over the past month.

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Source: SQM Research

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