SMH-Outer suburbs feel the pinch

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Outer suburbs feel the pinch as rents continue to rise LOUISE HALL STATE POLITICS
May 19, 2010

AVERAGE weekly rents in Sydney have increased to $400 a week, an increase of $10 since last year.

Tenants in the outer-ring suburbs, such as Blacktown and Sutherland, faced the largest rises, with rent increasing by $20 a week. Inner-ring suburbs, such as Marrickville, Mosman and Randwick, jumped by an average $15. However rent in middle-ring suburbs, such as Canada Bay, Kogarah and Ryde remained stable.

The Minister for Housing, David Borger, said rent in outer suburbs was rising as the market adjusted to increasing demand from tenants escaping higher inner-city prices.

Figures from Housing NSW's Rent and Sales report show in the March quarter, a two-bedroom unit cost an average $410 a week, and a three-bedroom house $380.

The biggest increases for two-bedroom units were in Campbelltown (up $40 to $240), Manly (up $70 to $580) and Wyong (up $30 to $260).

For three-bedroom houses, Sutherland (up $60 to $520), Pittwater (up $75 to $680) and Camden ($40 to $380) had the largest increases.

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