Amid a widespread rental crisis, a handful of neighbourhoods bucked the trend.
A handful of suburbs have had near-negligible rent increases in the past five years and some even recorded price drops, despite Australia’s widespread rental crisis.
“They are either the expensive area in the capital city or a place where there is greater demand for houses than units,” Domain chief of research and economics Dr Nicola Powell said. “When the new Western Sydney airport was announced, we had more interest from people – once it’s finished we will be between two airports,” Kalinderidis said.He said the area was also accessible to the city with direct trains on multiple lines, and had seen recent investment in infrastructure thanks to changes last year to zoning rules, residential as well as commercial.
Powell said the returion of international students since COVID meant units in the area jumped in price – up nearly 16 per cent to $500 in the past year – and houses could potentially follow.Belle property agent Zac Kelty said he had started to see this happen – students who would usually rent an apartment alone were splitting the cost of a house with one or two others.
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