I negotiated a 15% rent cut in Sydney due to the falling market rents. Moved out 6 weeks ago due to buying a place. Our ex-landlord has advertised it at the reduced rent that we we were paying. He still hasn’t found a new tenant.
There is a possibility that we have moved to an era of low interest rates and mortgage rates of 2-3% will be the norm. In that scenario, rental yields of 2-3% no longer seem ridiculous, as they are supported by the low interest rates.
