Sydney Rental Market Remains Steady

Availability across the Sydney rental market remained relatively steady in July 2018, according to research from the Real Estate Institute of New South Wales.

REINSW Deputy President Brett Hunter said the July 2018 REINSW Vacancy Rate Survey saw vacancy rates across the Sydney metropolitan at 2.8 per cent, a rise of 0.1 percentage points.

“The vacancy rate fell 0.1 percentage points in both Middle and Inner Sydney at 2.9 per cent and 2.7 per cent respectively, while Outer Sydney bucked the trend rising 0.3 percentage points at 2.7 per cent.

“The Sydney vacancy rate we are seeing at the moment is in line with the winter seasonal trend,” Mr Hunter said.

In the Hunter, vacancy rates fell 0.2 percentage points to 1.7 per cent, with Newcastle down 0.2 percentage points at 2.2 per cent. The Illawarra dropped 0.5 percentage points to 2.0 per cent with Wollongong down 0.3 percentage points to 2.0 per cent.

Across regional areas, Albury was up 0.1 percentage points at 1.5 per cent, while the Riverina and Central Coast were steady at 3.1 per cent and 2.0 per cent respectively.