17-month stays now the norm in Sydney

It revealed that it’s only a minority of renters settling into long-term homes, with 30 per cent of tenants vacating a property within 12 months.

Further, less than 10 per cent of tenants spend more than five years in a rental property.

The shortest tenancy average across the city was recorded in Palm Beach and surrounds, where rental bonds were refunded after just 13 months or 389 days – a 30 per cent decline year-on-year. 

Suburbs within the city centre, Sydney south-west and inner-city have also been hit hard – with all having experienced declines in median tenancy duration.

According to Domain, this has been driven by a variety of factors, including an influx of short-term holiday lets, a decrease in international student and expatriate arrivals and the personal circumstances of tenants and landlords.

In contrast, middle and outer-ring suburbs saw longer tenancies, with the highest median recorded in the Canterbury Bankstown region at over 24 months or 746 days.

Other suburbs in the north-west and the Blue Mountains also recorded median tenancies of more than 23 months.

Sydney postcodes with the shortest tenancies

Sydney postcodes with the longest tenancies

Postcode	Median number of days bond held
Belfield (2191)	746
Bossley Park (2176)	739
Glenwood (2768)	728
Arcadia (2159)	725.5
Blaxland (2774)	716
Artarmon (2064)	710
Allawah (2218)	709.5
Ourimbah (2258)	705
Blackheath (2785)	698
Lakemba (2195)	697 You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Bianca Dabu Know more More from this writer: Why it’s still worth selling – even in lockdown Over 200 Perth suburbs see winter price growth Auction volumes on their way back up Low interest rates drive record refinancing Tassie’s own $20k HomeBuilder grant finds early success Capital cities see stronger auction success 2020 vs 2021: How lockdowns have impacted the market