Sydney Rental Market Stable
Residential vacancy rates across Sydney have stabilised, according to the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the November 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan area steady at 2.1 per cent.
“Vacancy rates in Middle Sydney remained unchanged at 2.2 per cent, while Inner and Middle Sydney both saw an increase of 0.1 percentage points to 2.2 per cent,” Ms Pilkington said.
The Hunter increased 0.2 percentage points at 2.0 per cent with Newcastle steady at 2.3 per cent, while in the Illawarra, vacancy rates fell from 2.5 per cent to 1.8 per cent. Wollongong was down 1.3 percentage points at 1.6 per cent.
Across regional areas, Albury slipped 0.2 percentage points at 3.0 per cent, Northern Rivers remained steady at 0.8 per cent for the third consecutive month and the South Coast fell 0.4 percentage points at 1.2 per cent.