RENTS DOWN IN SYDNEY
GENERAL SLUMP IX PROPERTY
(From "The Post's" Representative.) SYDNEY, 22nd November; Eeductions in rents in general in the metropolitan area of Sydney, and particularly in tho central shopping area, are averaging about 25 per cent. With tho prevailing depression many of the big landlords have been obliged to come to terms with their tenants —cither that or lose them and hayo their places empty with no immediate prospect of refilling them. .Reduction of rents, however, has not shaken tho confidence of real estate owners and agents in tho city. Oldestablished firms believe, in fact, that the revision of rent levels, however painful it might be temporarily for landlords, is a prelude to a healthier to.no in the market, and that, with a renewal of confidence, rents and property prices will establish themselves on a sounder basis. This at least was the view before the Federal Government announced its new property tax. Perhaps the latest thumping impost will ■'serve-to modify it.somewhatg
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Bibliographic details
Evening Post, Volume CX, Issue 131, 1 December 1930, Page 9
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164RENTS DOWN IN SYDNEY Evening Post, Volume CX, Issue 131, 1 December 1930, Page 9
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