Go west, if you can: desperate Sydney tenants priced out of rentals, even far from CBD

By the time Rebecca Khadka arrived at a midweek inspection for a unit to rent in Homebush, she already felt as if she had compromised too much in her desperation to find a home.

Her applications keep being rejected.

Khadka, who works as a nurse in central Sydney, said she had seen up to 40 people at some inspections, scrambling just like she is to find a home as the rental market approaches crisis levels.

The number of renters per available property had risen by 28% year-on-year, according to the June 2022 rental report from property analysts PropTrack, and Sydney and Melbourne had the greatest increases.

The report also found that the number of new rental listings was 13.8% lower nationwide than the 10-year average. The total volume of rental listings was 18.2% lower year-on-year for June, and 27.7% lower than the 10-year average.

The consequences of this rental property shortfall is skyrocketing rent, cut-throat demand and a market that leaves those unable to compete without a home.

Maya said she rushed to inspect and apply for as many properties as possible, spending all day at inspections and all night on the phone with real estate agents.

She applied for more than 15 properties and was finally accepted one day before her notice to vacate took effect. Her new home is smaller but is also more expensive than her previous rental.

He said he had noticed more people moving farther west to secure cheaper rent.

Prof Nicole Gurran, an urban planner and policy analyst at the University of Sydney, said a reduction in rates of homeownership was a major driver behind increased competition for rental properties.