Rental Price Gap Closing

According to Australian Property Monitors, the difference between the rent of an apartment and an equivalent house is now only $30.  Over the June quarter median weekly rents for Sydney apartments rose by 4.4%, to $470, while house rents were stagnant at $500.
People like the security of an apartment, they are usually on one level with a lift for the higher level units, whereas most houses have stairs between various living areas.  Many apartments have great views, whereas few houses are high enough to see over neighbouring properties.  And apartments are low maintenance.  Most owners like to have their own garden, but for most house-renting tenants the garden can be more of a burden than a recreation space.
However in and around Beecroft, tenants enjoy the privacy of living in their own (rented) property, and families enjoy the garden and if available the swimming pool.  But also in our area there has been a shortage of new property coming onto the market, and rents have been firm.
Ray White Beecroft manages rental apartments over a wide area, from Kellyville to Ultimo and Artarmon, so is well placed to monitor rental changes throughout the northern suburbs of Sydney.