Hmm. 18 weeks times $880. $15,840. That's the GDP of small African countries.
Now for the other properties.
9a Wrights Road DRUMMOYNE - still on the market at $780 after 9 weeks.
32 Barton Ave Haberfield - now on the market for $900, down from $1,000 a month ago. Seems to have been on the market since mid June.
18 Fitzroy St Croydon - went on the market 2 months ago at $900, but has finally moved after 2 months by dropping the rent to $800.
20 Burnell Street DRUMMOYNE - went on the market a month ago at $750. Still on the market, but now listed at $650.
68 Abbotsford Pde Abbotsford - went on the market a month ago at $900, appears to have leased for $850.
What does this tell us?
High end properties are moving, albeit slowly, and they need to be discounted before anyone shows interest. Given that a year or two ago, tenants were fighting over properties and offering higher rents, this is a big turnaround in behaviour. If you are looking for an expensive rental property, the best thing you can do is offer a lot less than the asking price.
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