Renting in Sydney

[refokkused]

Well I recently have been looking at a new place to rent and was surprised to see that I can't get anything under $550 for a 1 bedroom in the centre of the city. It only drops off slowly as you move away from Sydney City ...

We all know how overpriced Sydney is but at what point do you cut your losses? I mean $550 to rent is high but then again to buy a place in the city would be about $550,000 + strata + rates ... understandable why the rent is that high!

What you guys do ? Live further away and travel into city for work / dinner / coffee / punt / clubs etc and pay less, or pay more for the convenience?

[MrSeven]

Get a studio in the eastern suburbs.. you should only pay $350-$380.. anywhere you want.
Potts Point, Darlinghurst, Elizabeth Bay, Rushcutters Bay, Paddington, Surry Hills, Edgecliff, Zetland, Waterloo.
Live further away and you'll regret it. (i reckon)

[AHLUNGOR]

It will be more economical if you can share the high cost with a flat mate, say in a two bedroom apartment, and usually the facilities will be better than a studio or 1 B/R.

1/2 of the rent for $600/$700 a week ain't too bad!! and you can share electricity and other stuff as well.

Good luck

Cheers

:smile:

[chandra_man1]

http://m.realestate.com.au/property-unit-nsw-ashfield-112440235
buy in Ashfield. 15 mins to city by train. 400k 2 bedder. can live in one room andrent out other. borrow 360k and monthly payment is around 2k so thats less than $500 a week.

disclaimer: i have no association with that unit. just a random search. for a 1 bedder ashfield can get it for $330k.

[aussiegaigin]

Rent out your spare room to an asian student. $150-200/week should get you someone decent. Include a fixed allowance for electricity, etc - eliminates arguments over splitting of bills every quarter. Girl or guy (girls are usually more house trained). They will invite their female friends around, so you might pick up a bit on the side. Don't put them on a rental lease but make up a "Share Agreement" (as a "lodger"). That way you don't have to register any bond money paid, and it is much easier to turf them out if there is a problem. As they are not "paying rent" but just "sharing expenses" it is easier to get under the taxation radar.

I did this for a number of years (I lived near UNSW which even had an office supplying me with tenants).

[chandra_man1]

did u get many female tenants with benefits ?

[aussiegaigin]

No, I deliberately avoided mixing "business" with pleasure.

But I regularly organized parties to which they could invite their friends, and the pickings were good.

[suka02]

Believe it or not. I just recently bought a 4 bedroom cottage House 300m2 in Belmore for $445k. I'm so damn lucky! I borrowed $400k. Rent appraisal $480 (invest) or weekly repayment to live in ($495). Shall I rent all 4 bedroom each $150x4? Or I just live in it? Lol

[wilisno]

Believe it or not. I just recently bought a 4 bedroom cottage House 300m2 in Belmore for $445k. I'm so damn lucky! I borrowed $400k. Rent appraisal $480 (invest) or weekly repayment to live in ($495). Shall I rent all 4 bedroom each $150x4? Or I just live in it? Lol

The problem is , Belmore might not be a very sought after location for oversea students !

[suka02]

true brother wilisno but I forgot to mentioned its about 300m close to the station. If you have a research there is nowhere else you could ever found a property "house" of 2-3 bedroom over 450k or 500k. Despite mine is a 4bedroom. if you do, I'll shout you a punt anywhere you like in sydney :D

[wilisno]

true brother wilisno but I forgot to mentioned its about 300m close to the station. If you have a research there is nowhere else you could ever found a property "house" of 2-3 bedroom over 450k or 500k. Despite mine is a 4bedroom. if you do, I'll shout you a punt anywhere you like in sydney :D

I'm not saying it's not a bargain buy for you, I'm just saying if you want to use it as a rental property, don't expect high rentals as others mentioned above.

I heard that in places like Burwood, a 3 bedroom apartment can fetch up to a thousand dollars a week by private rental deals to students and workers !

[suka02]

I believe I got a bargain. As i observed comparing to last year, i believe the property house market price jumped between 50-100k. nowadays there is nowhere near under 500k mark house price even though they are old or new. Although its an old house and its been bought with the rental approval from the agent. average price people pay for renting in a house is about $500 range or over. Doesn't really matter where it is located as its still in sydney metropolitan area.

Most o/s student targets where the shopping areas is or closeby to their Uni. It's understandable, city area, burwood etc.. because they don't want to know about other areas and what could have been better for them.

[IExperiment]

I believe I got a bargain. As i observed comparing to last year, i believe the property house market price jumped between 50-100k. nowadays there is nowhere near under 500k mark house price even though they are old or new. Although its an old house and its been bought with the rental approval from the agent. average price people pay for renting in a house is about $500 range or over. Doesn't really matter where it is located as its still in sydney metropolitan area.

Most o/s student targets where the shopping areas is or closeby to their Uni. It's understandable, city area, burwood etc.. because they don't want to know about other areas and what could have been better for them.

Not bad is this your first property ?? so you can claim beniefit like first grant under 500K ?? free stam duty ??? the only down side I can see is it is a small land :)

[asiafever]

Belmore prices were actually steady for the past 2 years with only minor growth, and last years figures (particularly mid year, forget if May or June) were extremely skewed by the sale of a massive plot of land for obviously a high price. Supply to demand ratios for the area have halved in twelve months, which means if a mortgagee sale comes along bargains can be had. These would be holding purchases though as Belmore has a history of being stagnant, and it wasn't so long ago it had decreases of 5-10% every year for 4-5 years running, only to rebound with 15-20% growth during the boom of 2009-2010 (all figures are rough as I am working off memory, but wouldn't be far off the mark).
A neat renovated 4 bedder also sold for $495,000, and a 5 bedder for $515,000, so do I claim the punt???

Have you looked across the harbour? Kirribilli, Neutral Bay, North Sydney, all have one or even 2 bedders for $550 or under. Close enough to the city but far enough away too. I lived in Kirribilli and after a night out would walk home over the bridge, took 30 mins and sobered me up enough for when I got home.

[xconcepx]

I believe I got a bargain. As i observed comparing to last year, i believe the property house market price jumped between 50-100k. nowadays there is nowhere near under 500k mark house price even though they are old or new. Although its an old house and its been bought with the rental approval from the agent. average price people pay for renting in a house is about $500 range or over. Doesn't really matter where it is located as its still in sydney metropolitan area.

Most o/s student targets where the shopping areas is or closeby to their Uni. It's understandable, city area, burwood etc.. because they don't want to know about other areas and what could have been better for them.

Most uni students are of an Asian background are fairly new to the country and as such keep close to everything they've researched and been told about the country. In places like Kingsford I've seen houses near the uni fetch $200x 6 bedrooms which is significantly higher than the average rent. In areas like this it makes sense as the area is surrounded by Asian food and groceries as well as the same nationality ppl as themselves.

In belmore its too inconvenient for these students and as such wouldn't be looking at a place like that. Ud only be renting to the norm and such that property would be no different to any other property that can be had for quite cheap in that area. As pointed out its not an area that has shown steady growth over the last 5 years. That's not to say that it won't, just based on previous data its not a good a buy as u think.

[bill_100]

Look in http://www.realestate.com.au/rent which will give you an idea of current offerings.

Also look on the notice board of the institution you will study at.

[PhoBot]

Here is a very unexpectedly affordable place to rent or buy even. I don't recommend property investment here, but if you want an apartment in a fucking nice place to live....

http://www.domain.com.au/Property/For-Rent/Apartment-Unit-Flat/NSW/Vaucluse/?adid=8089072
http://www.domain.com.au/Property/For-Rent/Apartment-Unit-Flat/NSW/Vaucluse/?adid=8122407
http://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Vaucluse/?adid=2010158019

And sorry to be harsh, but I'd rather eat a fucking turd every morning at 8am than live in S/W Sydney.

[rooter]

Check out this map guys. It will tell you everything you need to know about the different areas of Sydney.
A picture is worth a thousand words. Very accurate and very funny

http://farm7.static.flickr.com/6007/5979226041_ccbb8bdb56_b.jpg

[PhoBot]

Check out this map guys. It will tell you everything you need to know about the different areas of Sydney.
A picture is worth a thousand words. Very accurate and very funny

http://farm7.static.flickr.com/6007/5979226041_ccbb8bdb56_b.jpg

LOL, I'd love to see the map according to the S/W. Rose Bay, Vaucluse would be Israel?

[suka02]

Yes, I understand it isn't the asians teritori to live in for o/s student. I'm just saying there many other ways I could make good deal out of it. Safe for renting and safe to live in (in terms of repayment). I believe lakemba it's a safe area beside punchbowl, although you may think the Muslim people causing trouble? Do some people think and believe so? Most people I that area are religious and have faith peace with their neighbours.

Anyways, l don't want to go into deep detail of religious, lets just make it peace to all (no discrimination). I been to lakemba many times during day and few nights over the few years. it is safe definitely. it Makes me feel happy for me as a home buyer and hope for the future fortune ahead. my reeasrch of property within that area is based on market list on domain and property website. no houses that are sale under 500k, all over 500-600k max.

[retrowolf]

I lived in the city (Chippendale) for a year and loved it but paying $600 a week meant I couldn't punt. So I moved up into the blue mountains and now pay $280 a week for a bigger place. It means I sit on a train for 4 hours a day, but at least I get to spend more time blowing in the mouths of beautiful young Asian girls. Small price to pay really ;)

[refokkused]

lol retrowolf , it's all about priorities aye ?

[AHLUNGOR]

I lived in the city (Chippendale) for a year and loved it but paying $600 a week meant I couldn't punt. So I moved up into the blue mountains and now pay $280 a week for a bigger place. It means I sit on a train for 4 hours a day, but at least I get to spend more time blowing in the mouths of beautiful young Asian girls. Small price to pay really ;)

Haha $300/week is a decent budget for punting

Cheers

[aussiegaigin]

I lived in the city (Chippendale) for a year and loved it but paying $600 a week meant I couldn't punt. So I moved up into the blue mountains and now pay $280 a week for a bigger place. It means I sit on a train for 4 hours a day, but at least I get to spend more time blowing in the mouths of beautiful young Asian girls. Small price to pay really ;)

Just think, if you could get one of those YAGs onto the train, you could put the 4 hours to good use.

[Clinton]

Everyone here seems to love asian girls more than cauc girls here. How come the rate for cauc girls is usually higher? Who are the people that are willing to pay more to see cauc girls?

[sinchankeren]

I lived in the city (Chippendale) for a year and loved it but paying $600 a week meant I couldn't punt. So I moved up into the blue mountains and now pay $280 a week for a bigger place. It means I sit on a train for 4 hours a day, but at least I get to spend more time blowing in the mouths of beautiful young Asian girls. Small price to pay really ;)

good decision. Really cost effective on punting.

[8inches]

Oh ma gawd!
South west sydney fully sick hectic area bro!
Go da bulldogs!!

[retrowolf]

Haha I wish I could put all the saved money into punting!! But alas, time to grow up and save for a house and I bought myself a motorbike. I can punt about once a fortnight comfortably now which was very hard before. Still, if it wasn't for the amazing value of the Asian ladies, I still wouldn't be punting.

[xconcepx]

Yes, I understand it isn't the asians teritori to live in for o/s student. I'm just saying there many other ways I could make good deal out of it. Safe for renting and safe to live in (in terms of repayment). I believe lakemba it's a safe area beside punchbowl, although you may think the Muslim people causing trouble? Do some people think and believe so? Most people I that area are religious and have faith peace with their neighbours.

Anyways, l don't want to go into deep detail of religious, lets just make it peace to all (no discrimination). I been to lakemba many times during day and few nights over the few years. it is safe definitely. it Makes me feel happy for me as a home buyer and hope for the future fortune ahead. my reeasrch of property within that area is based on market list on domain and property website. no houses that are sale under 500k, all over 500-600k max.

Lakemba is no better than punchbowl. At least punchbowl is closer to bankstown and has that going for it where as lakemba doesn't have much going for it. I'm not talking about ifs or maybes but based on experience. We had to assist a family member financially to get out the there as they couldn't afford to live in a better area, and as much as a financial burden it was on us I'm glad we did it. Getting them into a safer area with better schools was well worth it. The price the area commands is based on the majority of Arabs/Muslims etc wanting to love there. You definitely won't see an Asian or Caucasian naming those areas as a first choice. Even areas like punchbowl despite all the shootings still sell for 650k on average for a house with decent land, doesn't mean its a safe area or desirable!

[dannyboy]

You couldn't pay me to live in Punchbowl or Lakemba massive shit hole's..

[suka02]

everybody has a different story to their side. I'm not trying to debate here of who's wrong or right, it's based on my experience knowledge and facts. punchbowl area also good which is close to bankstown easily close to bankstown square, then think again.. Which is closer to the city? Which has higher value compare lakemba with punchbowl? Have you heard there been many issues going on in punchbowl area recently (stated on news)? have you seen any troubles in lakemba area in the past? Merely not the place to make troubles.

Look, I'm Asian I get along with the Arabs Muslim. They are nice people who have faith beliefs and that i have dealt with. the only time if people make trouble there will come trouble (especially the youths). Don't ever think all Arabs are Muslim but many also Christians.

please do yourself a research of property where can buy the cheapest house in inner west area? You will know it is nowhere near 500k now. Good luck lol

[asiafever]

But Belmore isn't the innerwest, that's the point, it is Canterbury Bankstown where houses under $500k are plentiful. As I posted, a 5 bed house in Belmore got $515,000 and a nicely renovated 4 bedder got $495,000. If you really want to know the crime rates for certain areas you merely need to look up the crime stats page at (i think) the NSW Bureau for Crime Statistics, they do a colour coded map for the whole state, and when you hover ovber Lakemba, Punchbowl, Bankstown, Roselands etc it glows red. Assault, non-aggravated assault, break and enter domestic premises, domestic violence etc. Anyhow, the median house price in Sydney for the past 12 months is $640,000 approx, when you pay less than that there is usually a reason why, distance from town, perceived safety or lack of in an area, infrastructure etc etc. You can still buy houses in Sydney under $200,000, but fuck me if you would live there. Belmore is improving, there is a more diversified population moving in there, and I tip in 5-8 yers you'll start to see some better growth if gentrification projects get the green light. Blacktown is set to BOOM over a slightly longer term, with a population increase of 46% over 20 years with massive improvements to infratructure for health, transport, housing, education, roads etc etc. You can still buy nice neat 3+ bed houses well under $400k and new 2 bed units under $300k renting for $350/week with yields over 6.5%, and crime rates seem to be trending south across the area. A nice 4 bed brick double storey house on 600sqm on the best st in Lalor Park sold for under $300k last year as a mortgagee auction, pissed I missed it because it would rent easily $380+ and under better circumstances was a $400k-440k home.

[yamada]

Well I recently have been looking at a new place to rent and was surprised to see that I can't get anything under $550 for a 1 bedroom in the centre of the city. It only drops off slowly as you move away from Sydney City ...

We all know how overpriced Sydney is but at what point do you cut your losses? I mean $550 to rent is high but then again to buy a place in the city would be about $550,000 + strata + rates ... understandable why the rent is that high!

What you guys do ? Live further away and travel into city for work / dinner / coffee / punt / clubs etc and pay less, or pay more for the convenience?

Do not think about seriously about renting fee, living place is most important thing.

If you like the place just have it. Bondi, Double bay, Bronte, darling point. are best place for living.
one bed room for $500, but its ocean view and Bikini Gal every day!!!

[Aimyy22]

It will be more cost-effective if you can discuss the heavy price with a smooth companion, say in a two bed room residence, and usually the features will be better than a studio room or 1 B/R.

[enigma775]

I always believed rent is some you should spend a little bit extra on to get the location you like.

[Nejums]

I'd much prefer living in cabramatta than belmore/lakemba/punchbowl.

Sydney houses are just overpriced. We're the third most expensive city in the world to live in. What the fuck?

[reve]

Believe it or not. I just recently bought a 4 bedroom cottage House 300m2 in Belmore for $445k. I'm so damn lucky! I borrowed $400k. Rent appraisal $480 (invest) or weekly repayment to live in ($495). Shall I rent all 4 bedroom each $150x4? Or I just live in it? Lol


Not bad is this your first property ?? so you can claim beniefit like first grant under 500K ?? free stam duty ??? the only down side I can see is it is a small land :)

My place in crows nest is half the size but cost alot more. My next door neighbour recently sold their place for $1million same size land 160 square meter 2 story 120square meter living area. My eyes poped as I saw these sort sort prices.


I lived in the city (Chippendale) for a year and loved it but paying $600 a week meant I couldn't punt. So I moved up into the blue mountains and now pay $280 a week for a bigger place. It means I sit on a train for 4 hours a day, but at least I get to spend more time blowing in the mouths of beautiful young Asian girls. Small price to pay really ;)

I don't think alot of brothers would spend that much time to and from work. For some of us time is money!

[reve]

And as for some of other comments about muselims and arabs even thought they might be nice people but you will definately feel out of place living among them. I have known a few abrabs who are nice and decent people but they are my school mates who have been brought up in australia.

[rooter]

Let's face it, when it comes to Sydney anywhere North of Circular Quay, West of Leichhardt, South of Surry Hills, or East of Kings Cross is a desert!!!
Yes, I'm an inner city latte sipping wanker, I admit it ;)

[Starlight]

And as for some of other comments about muselims and arabs even thought they might be nice people but you will definately feel out of place living among them. I have known a few abrabs who are nice and decent people but they are my school mates who have been brought up in australia.

Same as many other ethnic communities feels strange living among Asians too. Certainly not all Asians are bad people as well. Thats what you get living in a country built by migrants. You have to learn to live with people from different cultural backgrounds, different language & so on. I have seen many Arabs & Asians when they get together they start communicating in their language knowing that others in the group wouldn't have a clue what they are saying.
This is another reality of social behaviour that people always feel comfortable living among their own people or where they are accepted without any stigmas nominated/ attached to them.
Now whats happening in Sydney that many suburbs have emerged as one or other ethnic community majority suburbs. If in one suburb Arabs are in majority then in the next suburb Asians are in majority & then two suburbs down Islanders are in majority. Regardless how many times people say no racism here, but can they deny the way they act or think about other ethnic groups, but still of course they would deny it.

[wilisno]

Thats what you get living in a country built by migrants. You have to learn to live with people from different cultural backgrounds, different language & so on. I have seen many Arabs & Asians when they get together they start communicating in their language knowing that others in the group wouldn't have a clue what they are saying.


The main reason for this situation is usually the language ability. Although some can speak good English, but they can only express themselves better in their mother tongues. No disrespect intended. But I always try to avoid that if there are Aussies in the group.

[pyrmont_dude]

Live in the city and offer a nice lady rent for sex. Such a win

[yowser]

I lived in the city (Chippendale) for a year and loved it but paying $600 a week meant I couldn't punt. So I moved up into the blue mountains and now pay $280 a week for a bigger place. It means I sit on a train for 4 hours a day, but at least I get to spend more time blowing in the mouths of beautiful young Asian girls. Small price to pay really ;)

Are there any RNT shops in the blue mountains? imagine those innocent tourists who go sightseeing and drop by for a massage, and then get whispered in their ears if they want special haha

[Babycat]

Live in the city and offer a nice lady rent for sex. Such a win

Used to see those kinds of ads on Gumtree. Was thinking about it when I first came to Australia but then “no free lunch ever” so I didn’t fall for that trap. Some of my colleagues used to see an old man offering free accommodation, free meals and $500 per week to live with him. Hmmm.

[Hu6e]

Are there any RNT shops in the blue mountains? imagine those innocent tourists who go sightseeing and drop by for a massage, and then get whispered in their ears if they want special haha

There ain't much chop past Penrith.
I know a couple of privates that service the blue mountains, but I'd rather go to 12 Euston tbh.

I also have a massive commute to punt. So it's a great deal to punt on days off.

[Riff888]

I'm renting a one beder in Potts Point, close to the action.

I'm noticing the price to buy a one bedroom apartment or semi is coming down.

Saw an ad for $650k in Potts Point, that was unheard-of last year.

I'm in the financial services, lots of foreign investors are leaving our shores, plus there is an oversupply in certain areas.

Save your money and pick up a bargain in 1 or 2 years. Especially if the interest rate goes up over 1%.

[AHLUNGOR]

I'm renting a one beder in Potts Point, close to the action.

I'm noticing the price to buy a one bedroom apartment or semi is coming down.

Saw an ad for $650k in Potts Point, that was unheard-of last year.

I'm in the financial services, lots of foreign investors are leaving our shores, plus there is an oversupply in certain areas.

Save your money and pick up a bargain in 1 or 2 years. Especially if the interest rate goes up over 1%.

Mate, Potts Point is definitely a high end area , the old Crest Hotel is now a residential apartment by a Chinese developers and a basic one bedroom is over one Million big ones !

[Hu6e]

Mate, Potts Point is definitely a high end area , the old Crest Hotel is now a residential apartment by a Chinese developers and a basic one bedroom is over one Million big ones !

Alot of Chinese investors.
One complex I worked on, a Chinese investor bought 3 levels! 3 fucking levels of apartments!!
He was based in China, and didnt even come over to check them. He sent an assistant who arrived in the morning. Checked all of the apartments, and left for China that evening. All given to the real estate agent to deal with.

[Riff888]

Forget about the new complexes, look for the older blocks.

It's getting harder for Chinese investors to bring money over. The Chinese government is coming down hard on that. Also, local banks won't lend them money like they used to.

We can already see this affecting the price in some areas. House and land will be rare, hold on to that if you can, it will be worth a fortune in the future.

Plus there's the trade war and heavy debt in China.

[Leftoverman]

I'm renting a one beder in Potts Point, close to the action.



Hi neighbour, Same here:cool2:

[pyrosphere_36]

Potts point, prime real estate for punters. lol

[juknov]

Potts Point? Close to what action?

[AHLUNGOR]

Potts point, prime real estate for punters. lol

May be in the really good old days when Tudor Courts and Golden Apple were talk of the town ! But now, even the Apple has become A Touch of something........ haha

[juknov]

Potts Point. No.
I used to live in a unit on Park Street near QVB

[Dak2000]

Haha wish I’d taken notice of the dates in the first posts in this thread as I’ve just spent a bit of time looking for these fantastic real estate deals!!

2005 my brother and I shared a penthouse in Pyrmont for $750 a week. Wasn’t popular you see. All of these suburbs mentioned close to CBD have become much more sought after and rents come up. So more building conversions and construction... you’d have to think rents will flatten and maybe drop as this supply really kicks in.

Renting near punting haunts? Hmmm I’m not sure that’s a problem wherever you rent.