PHOTO: Amanda Jong and Jye Mcmurray moved into new rental this weekend. Picture: Flavio Brancaleone Source: News Corp Australia
Renters have become the surprise winners from the recent real estate investment boom and are now pocketing hundreds a week in savings in some suburbs, research shows.
Sydney tenants have been pocketing hundreds of dollars a week in savings as mounting housing supply forces landlords to discount their rents by nearly 25 per cent in some city pockets.
The savings showed renters have become the surprise winners from rampant investor buying during the property price boom from 2014-2017, which has flooded the market with rental properties.
Recent falls in property prices also encouraged more property seekers to purchase their first home and leave the rental market, cutting tenant competition for properties.
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