Winter has come for Sydney vacancy rates

Winter has come for Sydney vacancy rates
Winter has come for Sydney vacancy rates

Vacancy rates across Sydney during July rose 0.1 percentage points to 1.9 percent, according to the REINSW.

Seasonal factors are influencing the number of people seeking rental accommodation, said REINSW president John Cunningham.

He anticipates this trend will continue during the remainder of winter.

Click to enlarge

Winter has come for Sydney vacancy rates

 “Vacancy rates rose across the board in Sydney with Inner Sydney up 0.1 percentage points at 2.3 percent, Middle Sydney increased 0.1 percentage points to 1.5 percent, while Outer Sydney availability rose 0.2 percentage points to 1.9 percent," he said.

“Seasonal factors are playing a role in the increase in vacancy rates, as well as reduction in activity that we often see at the end and beginning of the financial year.

"In the Illawarra, vacancy rates slipped 0.2 percentage points to 2.3 percent with Wollongong down 0.2 percentage points at 2.2 percent. The Hunter remained steady at 2.3 percent, despite a fall of 0.2 percentage points in Newcastle.

"Across regional areas, New England rose 1.1 percentage points to 4.2 percent, the Central West added 0.6 percentage points to 3.5 percent and the Central Coast added 0.5 percentage points to 3.2 percent. The South Coast fell 0.5 percentage points at 1.6 percent and the Northern Rivers declined 0.9 percentage points at 0.7 percent."

Click to enlarge

Winter has come for Sydney vacancy rates

Tags: 
Vacancy Rates Winter Market

Comments

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