Sydney Vacancy Rates Remain Steady
Sydney’s residential vacancy rate continues to support those seeking rental accommodation, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the March 2018 REINSW Vacancy Rate Survey saw availability fall 0.1 percentage points at 2.2 per cent for the Sydney metropolitan area.
“A vacancy rate above 2 per cent is positive for those seeking rental properties,” Ms Pilkington said.
“In Outer Sydney, the vacancy rate remained steady while Middle Sydney and Inner Sydney rose 0.1 percentage points to 2.6 per cent and 1.9 per cent respectively.”
In the Hunter, vacancy rates rose 0.1 percentage points to 1.6 per cent with Newcastle up 0.4 percentage points. The Illawarra also remained stable for the third month in a row with vacancy rates at 1.9 per cent. Wollongong was down 0.1 percentage points at 2.2 per cent.
Across regional areas, Northern Rivers rose 0.2 percentage points at 1.2 per cent, Murrumbidgee increased 0.2 percentage points at 1.0, while New England dropped 0.9 percentage points at 1.9 per cent.