Big Price Fall in Sydney West in the Inv Sydney
An increase in the supply of the house and the slow growth of wages has put a descending pressure on the investment and rental market some of the most affordable suburbs of Sydney. The biggest annual fall has been recorded in the rental market in over a decade according to a recent report. The prices have dropped by almost 25% in the suburbs that have taken the biggest fall.
The west and South-west parts of the cities which provided the cheapest rents in the city have seen a significant decline throughout the year. Nine out of the ten suburbs, which can be referred to as the most affordable have seen massive price drops in their rents. The research said that the reason for the decline was the large numbers of buildings that were built but didn’t have enough tenants to fill the apartments.