Sydney vacancy rates edge to four year high

Sydney vacancy rates edge to four year high
Sydney vacancy rates edge to four year high

Real Estate Institute of NSW figures showed residential vacancies rose to their highest level in four years in Sydney.

The residential vacancy rate in greater Sydney picked up to 2.2 per cent in December from 2.1 per cent in November.

The increase came from the middle and outer-ring suburbs.

The normally slow holiday period tally took it to a level it last seen in July 2013.

Sydney's vacancy rate was higher in September 2012, when it was 2.5 per cent, REINSW figures showed.

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 there was 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. 

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.

Tags: 
Reinsw Vacancy Rates

Comments

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