Rents drop in inner Sydney

Rent levels for apartments and houses in inner Sydney have almost fallen back to their level of 12 months ago. The largest fall in quarterly median rents was in Hornsby one-bedroom flats. For two-bedroom units and three-bedroom houses, the largest rental falls were in Marrickville and Leichhardt. The NSW Department of Housing said that of the nine councils recording quarterly rental declines, more than half were in Sydney's inner area. These included South Sydney, Woollahra and Drummoyne. In contrast, regional cities and outer Sydney suburbs experienced rental increases for the quarter.