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Where can I find an Asian market in Sydney?

Plan to buy a property in Melbourne. How easy would it be to find a tenant in case I relocate to another place?

  • Hello! I'm currently shelling out 25K almost on my rent and in Perth for a small 1 BHK, thats pathetic! I have a Fly in Fly out work profile with 28 days on/off schedule and with this am free from any restriction for a place to reside. Intend to continue for the coming years and in Australia and may have to relocate after 4-5 years in another country. Considering that and if I purchase a property in Melbourne now, and may have have to relocate, I'd need something to back up for the EMIs... wondering how easy would it be to find a tenant for the place? How the rental market there in Melbourne is... the trends, growth, etc? I'm also considering other places and including Sydney, if I can have some advise please; considering the rental markets and growth which place could be better to go for? Thanks!

  • Answer:

    It depends what part of Melbourne you buy in.  I rent out a room in my house in the Northern suburbs, and despite the alleged rental crisis I got very very little interest.  However a friend owns an apartment in Hawthorn and when her tenants left and they advertised it they had dozens of people turning up for inspections.  The REIV says the rental vancancy rate is 3.4% - Sydney is lower, the latest figure i found for them was 1.9% a few months back.   Sydney property though is going to cost you more though. I guess my amateur annecdotal answer is if you buy in a desirable inner city neighborhood, you should not have any trouble finding tenants in a timely manner  - assuming of course the property is not a dive and that it is not overpriced.

Travis Croft at Quora Visit the source

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Matt, Thank you for your reply. I'm not very much on Quora and its today I'm seeing your post. Considering the  housing prices and clearance rates have flattened and in some instances, dropped; what locations could you think of having a strategic property. A place which could have a reasonable rental demand for the years ahead? Not that I can afford million dollar property but if you could name a few please, in the medium density and high density areas please? Cheers, Abhijit

Abhijit Rathi

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