Inner Sydney vacancy rates highest for 2 years

Inner Sydney vacancy rates highest for 2 years
Inner Sydney vacancy rates highest for 2 years

The Inner Sydney rental market has seen two months of increased availability according to the Real Estate Institute of New South Wales, which also noted the highest levels since August 2015.

John Cunningham, REINSW President, said the June 2017 REINSW Vacancy Rate Survey saw Inner Sydney rise 0.3 percent at 2.2 percent, while the overall Sydney metropolitan area remained steady at 1.8 percent.

Click to enlarge

Inner Sydney vacancy rates highest for 2 years

“The rise in Inner Sydney was offset by a decline of 0.2 percent at 1.4 percent in Middle Sydney, while outer Sydney slipped 0.1 percent at 1.7 percent," he said.

“More stock has entered the market place in Inner Sydney which has seen a rise in availability as tenants take time to fill the available accommodation.

"In the Illawarra, vacancy rates rose 0.7 percent to 2.5 percent with Wollongong up 1.2 percent at 2.4 percent.

"The Hunter rose 0.2 percent to 2.3 percent with Newcastle up 0.7 percent to 2.9 percent.

"Across regional areas, Albury and New England have the highest vacancy rates at 3.1 percent, up 0.3 percent and down 0.1 percent respectively.

"The Riverina was down 0.2 percent at 2.5 percent and Northern Rivers fell 0.1 percent to 1.6 percent."

Click to enlarge Inner Sydney vacancy rates highest for 2 years

 

Tags: 
Vacancy Rate Rental market

Comments

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