The Northern Beaches rental market is tight and competitive:
- Low Vacancy Rates: Around 0.73%, making it hard to find rentals.
- High Demand: Driven by population growth and limited new housing.
- Rental Prices: High, with a 2-bedroom apartment in Manly at around $1,150/week and a 3-bedroom house in Newport at about $1,650/week.
- Fast Turnover: Properties lease within 7-10 days.
- Regulatory Changes: New laws provide more stability and affordability for tenants.
It’s a challenging market for renters, with high demand and low availability. Anything else you’d like to dive into?