High rents good news for landlords
Sydney has again top-scored with the highest rents in Australia according to a survey by RP Data.
Clontarf claimed the most expensive rent for houses, averaging a respectable $1,600 per week.
The Rocks recorded an average rent of $1,100 per week for units.
Australia’s most affordable unit rentals are found in Adelaide’s Elizabeth Vale where renters pay an average of $155 per week.
Meanwhile Sydney home buyers are the biggest losers in the national stamp duty stakes, with Sydneysiders working three months to pay stamp duty on median priced properties, the inaugural Bankwest Residential Stamp Duty report has revealed.
Stamp duty on the typical Sydney home was $19,385, the highest bill of any capital city.
NSW stamp duty thresholds have remained unchanged for owner-occupiers over the past five years while property prices have increased 20 per cent, and more than $18 billion of stamp duty receipts ‘ both residential and commercial ‘ flowed into NSW state coffers.
