Rents Rise In Out City Suburbs
SMH has produced reports conducted by Housing NSW to show hat rents in the outer Sydney region are now showing strong signs of improvement over last year. The inflation increased 9.4% in the same period inner suburbs only rose a quarter of a percent. The report shows that demand for suburban rentals is outracing the rest of the market.
Suburbs such as Campbelltown, Penrith and Camden showed the largest increase all in the range of 8-9%. Medium proximity suburbs such as Strathfield, Lane Cove and Leighcardt around 5%, while inner suburbs showed only minor inflation of up to 2%. Over the past five years, outer region suburbs have grown by around 46%.
Simon Reibelt from Oasis Home Loans Northern Beaches saw this growth pattern as opportunities for Investors looking to purchase and expand their portfolio as good return marketplaces.