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Sydney apartment rents drop to three-year low on oversupply

Friday, January 15, 2016 - 05:50
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The fall in rents in Sydney suggests that the record levels of new apartments are now exceeding rental demand, says online real estate listing firm Domain.

Sydney

SYDNEY apartment rents have dropped for the first time in three-and-a-half years as a construction boom leads to an oversupply, according to a report by online real estate listing firm Domain.

The median weekly rent for units in Australia's largest city has dropped to A$500

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