Spring sees renters return to inner Sydney market: REINSW

Warmer weather has seen vacancy rates steady across Sydney as renters seek accommodation in the heart of the city, according to research from the Real Estate Institute of New South Wales.

REINSW President Leanne Pilkington said the September 2018 REINSW Vacancy Rate Survey saw metropolitan Sydney vacancy rates down 0.2 percentage points at 2.8%.

“The change in season has seen renters return to the Inner Sydney market with vacancy rates falling 0.5% to 2.4%, a level last seen in May,” Pilkington said.

“Middle Sydney remained steady at 3.1% while Outer Sydney dropped 0.2% at 2.9%.”

In the Hunter, vacancy rates rose 0.1 percentage points to 1.9%, with Newcastle up 0.8 percentage points at 2.9%.

The Illawarra slipped 0.2 percentage points despite Wollongong being up 0.1 percentage points to 2.1%.

Across regional areas, New England remained steady at 2.2%, Northern Rivers rose 0.3 percentage points to 1.3% and Orana rose 0.2 percentage points to 2.0%.

Click here to enlarge

Click here to enlarge

Source: REINSW