Parramatta Blog

Parramatta has been identified as one of the top 20 tenant-friendly suburbs within commuting distance of Sydney’s CBD.

A new report from RentRabbit.com.au has revealed that Parramatta, along with Toongabbie, Westmead and Wentworthville, are in the top 20 suburbs where tenants can find affordable rent in decent suburbs that are within commuting distance of the CBD.

All the suburbs that made the top 20 list had a median weekly rent of $525 or below, while most were located within 35km of the CBD.

According to RentRabbit.com.au co-founder Ben Pretty, life is tough right now for tenants on average pay.

“Vacancy rates are low in many parts of Sydney and landlords are responding by jacking up rental rates,” Mr Pretty said.

“The RentRabbit.com.au Tenant Opportunity Report aims to help everyday tenants identify rental markets that are affordable, while also being liveable and commutable. That way, they can focus on raising their families and building their lives, without having to worry about whether they can afford to pay their bills.” Raine & Horne Senior Property Manager and Business Development Manager Rachael Barr believes access to good schools, shops, public transport and parks is why Parramatta made it to the top 20. “You got everything here that you need,” Ms Barr said.

With the current rental market considered to be “very active” compared to November and December, Ms Barr believes interest in renting in Parramatta has risen.

“The amount of people that we’re seeing coming to open homes and registering has increased quiet a bit,” Ms Barr said.

Following the median weekly rent in Parramatta dropping 4.0 per cent from January 2021  to January 2022, Ms Barr credits COVID and the closing of overseas borders for the lower cost.

“A lot of tenants that we get in Parramatta and surrounding suburbs are students on visas from overseas, so during COVID we saw a lot of them returning back to their home country due to not having any government support,” Ms Barr said.

Despite the decrease in weekly rent, Barr cautions that rental prices in Parramatta won’t stay stagnant for long as normality begins to return in a post-pandemic Sydney.

“I think we’re going to see a big increase in rental prices as soon a borders start opening up again,” Ms Barr said.