Hi guys, just wondering if there are any real estate agents here on OzB who could advise on when the best time to move in sydney's eastern suburbs is? At the moment all apartments are quickly getting snapped up, sometimes for more than their market value, just wondering If I wait until winter is there a slight drop in rent per week if I were to sign a year lease? Or does it make no difference at all, that people are moving around all the time and the rent will always be high? Hope someone can help, cheers :)
Best Time of Year to Move Apartment / Sign a New Lease?
blade2001 on 28/01/2016 - 14:27
Comments
cheers for that, I guess I would just really love to see a data sheet over a year with a price bar chart when is best to make a move, maybe there's some realos in the ozb house?
Rental growth is cyclical in the same way that property prices are cyclical. A one year data sheet won't really tell you anything profound, and any inferences that you draw from it won't be indicative of annual rent behaviours.
One year is a very short term snapshot to be reviewing in the property game, and I don't think you'll find anything material.
Here's a link to a Housing NSW resource, showing median rents by post code in September 2015 — Link.
You can also navigate to this link to see some Excel rent tables.
Love, a registered Property Agent.
You might find there is more demand this time of year if the area is near a university/tafe & students are finding accommodation
It's a bit more complicated than that, unfortunately. Landlords rarely have Black Friday specials and end of season run-outs.
Sure, people are more reluctant to move out in the winter, but it'll come down to a Property by Property basis of when might be the best time to rent.
Look for investors that have just picked up an "existing" property, that may need work done to it.
Investors of newly built properties will have had rental advice prior to buying in, and you'll have more competition which will inevitably drive the price up.
You could always walk into Raine & Horne and ask if they have any discount codes, though.