Sydney Vacancy Rates Stabilise
Rental accommodation available in Sydney has stabilised, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the February 2018 REINSW Vacancy Rate Survey saw availability remain steady at 2.3 per cent for the Sydney metropolitan area.
“The vacancy rate has stabilised in February and is favouring those seeking rental accommodation,” Ms Pilkington said.
In Outer Sydney the vacancy rates rose 0.1 percentage points to 2.3 per cent, Middle Sydney fell 0.4 percentage points at 2.5 per cent and Inner Sydney dropped 0.3 percentage points to 1.8 per cent.
In the Hunter, vacancy rates remained at five-year lows at 1.5 per cent with Newcastle up 0.1 percentage points to 1.4 per cent. The Illawarra also remained stable with vacancy rates at 1.9 per cent, despite a decline of 0.2 percentage points in Wollongong at 2.3 per cent.
Across regional areas, Albury rose 0.4 percentage points to 2.6 per cent, the Northern Rivers rose 0.2 percentage points to 1.0 per cent and the South Coast rose 0.3 percentage points to 2.0 per cent. Orana fell 0.2 percentage points at 2.2 per cent.