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Sydney apartments next in line for uplift as vacancies plunge

Rental vacancies in Sydney have dropped to their lowest level in more than three years, with potential upside emerging in apartments as investors again make their presence felt.

Sydney Inner City Apartments
Apartments in Sydney's inner city had been plagued by high vacancies towards the end of last year, but the situation is rapidly changing. Photo: YULIYAPHOTO / Shutterstock

Rental vacancies in Sydney have dropped to their lowest level in more than three years, with potential upside emerging in apartments as investors again make their presence felt.

Data from the Real Estate Institute of NSW showed Sydney’s rental vacancy rate was 2.6 per cent at the end of August, with a fourth consecutive monthly decline in August resulting in the lowest rate since May 2018.

REINSW chief executive Tim McKibbin said vacancies fell…