‘Holding on for dear life’: Sydney unit rents at a record high

Key points

• Sydney unit rents hit a record high of $780 a week in the September quarter, up 4 per cent over the year. House rents fell 0.6 per cent to $835 a week over the quarter, but rose 5.7 per cent annually.
• Experts warn rents could rise further due to interest rate increases and budget changes to negative gearing and capital gains tax.
• The rental vacancy rate increased slightly to 1.2 per cent, remaining well below the 3 per cent threshold indicating power parity between landlords and tenants.