Local property market reveals surprises: Parramatta a top rental region

SEVERAL suburbs in the Parramatta region have been rated in the top rental opportunities for families as in Greater Sydney.

The just released RentRabbit.com.au Tenant Opportunity Report reveals the top 20 tenant-friendly suburbs within commuting distance of Sydney’s CBD.

Rosehill placed eight at $460, Westmead ninth at $460 and Wentworthville 10th at $460. Parramatta was ranked 13th at $480 median rental.

Other suburbs in the region ranking in the top 20 were Greystanes 11th at $475, Northmead 15th at $490 and Dundas 17th at $510.

Ingleburn was judged best rental suburb in Greater Sydney at $430, while Blacktown was second, also at $430.

The new research commissioned by RentRabbit established the leading rental markets for tenants who have average salaries and want to live in good areas.

To make sure suburbs are suitable for families, only house markets were considered – unit markets were excluded. To further ensure markets are tenant-friendly, suburbs were excluded if they are more than 100km from the CBD.

That leaves a small list of Sydney suburbs. To establish a top 20 ranking. These suburbs were then ranked based on weekly rental rates, from lowest to highest.

All the suburbs had a median weekly rent of $525 or below, while most were located within 35km of the CBD.

RentRabbit.com.au co-founder Ben Pretty said life was tough right now for tenants on average incomes.

“Vacancy rates are low in many parts of Sydney and landlords are responding by jacking up rental rates,” he said.

“I really feel for tenants who are being forced out of their homes and suburbs, especially when they have kids who are forced to change schools.

“The RentRabbit Opportunity Report aims to help everyday tenants identify rental markets that are affordable, while also being livable and commutable.

“That way, they can focus on raising their families and building their lives, without having to worry about whether they can afford to pay their bills.”

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