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Sydney house rents down 4.8% year-on-year to a $1.5bn loss

Sydney house rents down 4.8% year-on-year to a $1.5bn loss

Updated October 28, 2018 05:22:33The number of rental properties in Sydney has plummeted by 4.7 per cent to $1,578.4 million.

The average price per square metre declined to $832.8, from $857.2 last year.

The number also fell to 3,077 units in the CBD, from 3,131 last year, and the number of units in suburbs increased by 3,937 to 4,063.

The City of Sydney has had the largest number of apartment and house rentals for a year, falling by 6.3 per cent year-over-year, to 4.55 million.

The city also experienced a 2.5 per cent decrease in house and apartment rents.AAP