3 ms·
I keep hearing how Sydney has the most expensive housing. In my experience, I found renting to be much more expensive in Melbourne compared to Sydney. This ma
by ShadowFaxSam 8y ago
I keep hearing how Sydney has the most expensive housing.
In my experience, I found renting to be much more expensive in Melbourne compared to Sydney.
This may be driven by affluent areas such as Rose and Watsons Bay.
So while these new measures could potentially lower pricing in the housing market for buyers, I could see this having negative affects for the renting community.
- ACow_Adonis 8y agoI say this not only as someone having lived in both, but as someone who has had some past professional interest tracking rents and the like: Sydney has by far been the more expensive between the two cities in terms of rental and house prices. There may be a subjective element in being present in Melbourne while rent prices took off which makes Melbourne seem to have become more expensive, but it's not even close. Edit: for instance, I live within walking distance of Melbourne cbd in a modern 2 bedder with 1 car space. Market rent approx $650 - $750 pw (not even including aberrations like docklands). In Sydney, you have to draw a substantially wider radius and transport time around the city centre and employment hub before you start hitting comparable properties and rates.
- ShadowFaxSam 8y agoThis site here backs up what you said, and as you mentioned its really not close. My personal experience was based on short term rentals (<1 year). https://www.bedssi.com/rental-price-guide-for-australian-cities https://www.bedssi.com/rental-price-guide-for-australian-cit... I did find that Sydney had more availability and options (at least during the market period I was searching). Lower Supply and High Demand should drive up Melbourne's price, but as you said, real estate in Sydneys CBD is just more valuable than Melbourne.