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Forged

12,555 Posts.

131

03/08/20

17:16

Post #: 46271561
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Originally posted by ididwork ↑

https://www.copyright link/property/residential/biggest-drop-in-apartment-rents-in-15-years-20200708-p55a3z

“...For the past two years Sydney unit rents have tumbled annually as tenants benefited from heightened investor activity in previous years, as completed off-the-plan apartments add to supply," Domain senior research analyst Nicola Powell said."The pace of decline has now gathered additional momentum. The city and east, inner west and lower north shore have felt the brunt," Dr Powell saidDeteriorating unit rents had forced Sydney’s gross yields to a record low of 3.66 per cent, she added....."

After you pay your costs and consider the unlikely prospect of capital gains, it hardly seems worth effort.

I suppose they can at least tell their friends they own an investment property in Sydney and sound rich.

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Or tell all their friends, they own a mining company by simply holding $30k worth of mining explorer (maybe worth less now, but hey they don’t know) and sound posh/rich.

Last edited by Forged: 03/08/20
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