Sydney is currently experiencing a rental crisis as a surge in demand for housing is being met with a shortage and rent hikes, realestate.com.au reports.
Data from SQM Research shows weekly rents on all houses across Sydney surged 21 percent in the 12 months to May, while unit rents increased 13.5 percent.
In response, real estate agents are reporting that an increased number of renters are attending open homes, with some even paying 12 months’ rent in advance to secure a place.
For Anna Tsitses and Georgie Larsson, they felt the sting of multiple rejections online before deciding to strike up face-to-face relationships with property managers.
“Giving them a face to our names and talking to them about what else they had available… definitely benefited us,” Ms Tsitses told realestate.com.au.
Since then, the pair were able to secure a semi in Avalon, Sydney.
This comes as the number of vacant properties on the market in Sydney has almost halved, dropping from 23,000 last April to 12,700 in April this year.
Source: realestate.com.au.
