NSW rental property vacancies slide: REINSW

NSW rental property vacancies slide: REINSW
NSW rental property vacancies slide: REINSW

The number of rental property vacancies across New South Wales fell 0.2% to 1.9% in July, according to the REINSW.

The July 2015 REINSW Vacancy Rate Survey found falls in Inner Sydney saw of 0.5 per cent to 2.1%, Middle Sydney fell 0.2% to 1.7% and Outer Sydney fell 0.1% to 1.6%.

REINSW President Malcolm Gunning said despite the 0.2% decline month on month a strong stream of property on the market starting to feed the migration into Sydney.

“Supply is still strong,” Gunning said.

“Vacancy rates remain close to 2.0 per cent which shows that supply is starting to meet demand.

“Outer Sydney has hit levels last seen in December 2014.

Illawarra vacancy rates dropped 0.5% to 1.7%, Wollongong down 1.0% to 1.4%. Vacancies rose in the Hunter region 0.2 per cent to 3.7%, New England climbed 1.2% to 4.6% and Orana increased to 4.0%. 

Click to enlarge

NSW rental property vacancies slide: REINSW

 

Click to enlarge

NSW rental property vacancies slide: REINSW

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

Tags: 
Rental Property Rental market

Comments

Be the first one to comment on this article
What would you like to say about this project?