Vacancy Rates Tread Water
Residential vacancy rates across Sydney continued to stand firm during the holiday period, according to the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the December 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan area up 0.1 percentage points at 2.2 per cent.
“During 2017 we saw a slight decline in rental availability in Sydney which bottomed out in March and April before rising again as the year progressed to see supply meeting demand.
“Vacancy rates in Inner Sydney were down 0.1 percentage points in December at 2.0 per cent, while Outer Sydney rose 0.2 percentage points at 2.3 per cent and Middle Sydney was up 0.4 percentage points at 2.6 per cent,” Ms Pilkington said.
The Hunter fell 0.3 percentage points at 1.7 per cent with Newcastle down 0.6 percentage points at 1.7 per cent, while in the Illawarra, vacancy rates fell 0.1 percentage points to 1.7 per cent. Wollongong was up 0.1 percentage points at 1.7 per cent.
Across regional areas, Albury fell 0.7 percentage points at 2.3 per cent, Coffs Harbour was down 0.2 percentage points at 1.8 per cent, Northern Rivers rose 0.1 percentage points at 0.9 per cent and New England added 0.2 percentage points to 2.5 per cent.