| 2024 has been a year of challenges and opportunities in Sydney’s dynamic rental market. Tenants have faced rising rental prices, but the demand for quality, well-located apartments has remained strong. The city’s vibrant urban lifestyle and ever-expanding infrastructure continue to attract residents, ensuring rental apartments remain in high demand. This demand, combined with the adaptability of property owners, has allowed the market to deliver steady returns for savvy investors. Rental Prices: Sydney’s rental market surged throughout 2024, with the median unit rental price peaking at $680 per week, reinforcing its position as one of the nation’s priciest cities for renters. Village Property’s average rent of $891 shows our commitment to managing premium properties that align with tenant expectations. This year’s price growth has been fuelled by strong demand, limited supply and sustained overseas migration, driving competition across the rental market. Vacancy Rates: The Sydney inner-city vacancy rate fluctuated, starting at 2.0% in January and peaking at 2.6% mid-year before stabilising at 2.1% by November. In contrast, Village Property achieved a much lower average vacancy rate of 1.4%. |
| LOOKING AHEAD The Sydney rental market faces ongoing challenges, including affordability pressures and regulatory hurdles that may deter investors. As we move into 2025, Village Property remains committed to innovation, excellence and growth. Our focus will continue to be on providing superior property management services while adapting to Sydney’s dynamic rental landscape. |
| 2024 KEY ACHIEVEMENTS Total Properties Leased………..644 Average Rent Price……………….$891 Average Days On Market…………..20 days Total Enquiries……………………….25,478 Total Inspections………………….2,701 Total Tenants Inspected………….11,695 |
