Spring Sees Renters Return To Inner Sydney Market
Warmer weather has seen vacancy rates steady across Sydney and renters are seeking accommodation in the heart of the city, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the September 2018 REINSW Vacancy Rate Survey saw metropolitan Sydney vacancy rates down 0.2 percentage points at 2.8 per cent.
“The change in season has seen renters return to the Inner Sydney market with vacancy rates falling 0.5 per cent to 2.4 per cent, a level last seen in May,” Ms Pilkington said.
“Middle Sydney remained steady at 3.1 per cent while Outer Sydney dropped 0.2 per cent at 2.9 per cent.”
In the Hunter, vacancy rates rose 0.1 percentage points to 1.9 per cent, with Newcastle up 0.8 percentage points at 2.9 per cent. The Illawarra slipped 0.2 percentage points despite Wollongong being up 0.1 percentage points to 2.1 per cent.
Across regional areas, New England remained steady at 2.2 per cent, Northern Rivers rose 0.3 percentage points to 1.3 per cent and Orana rose 0.2 percentage points to 2.0 per cent.