Sydney vacancy rate steadies: REINSW

Sydney’s residential vacancy rate has steadied, according to research from the Real Estate Institute of New South Wales.

The REINSW Deputy President Peter Matthews said the May 2018 REINSW Vacancy Rate Survey saw availability fall just 0.1 percentage points at 2.4 per cent across the Sydney metropolitan area.

“We have seen a level of consistency for renters as we move into the cooler months,” Mr Matthews said.

“In Inner Sydney vacancy rates are back on the upward trend with a rise of 0.2 percentage points to 2.4 per cent, while Outer Sydney fell 0.1 percentage points at 2.4 per cent and Middle Sydney fell 0.3 percentage points at 2.6 per cent.”

In the Hunter, vacancy rates fell 0.1 percentage points to 1.6 per cent, with Newcastle dropped 0.3 percentage points at 1.9 per cent. The Illawarra added 0.3 percentage points to 2.4 per cent with Wollongong falling 0.2 percentage points to 2.1 per cent. 

Across regional areas, New England and Northern Rivers remained steady at 1.9 per cent and 1.3 per cent respectively, while Albury rose 0.2 percentage points to 2.0 per cent and the South Coast jumped 0.5 percentage points to 3.5 per cent.