Sydney’s vacancy rates fall

Sydney’s vacancy rates fall

Posted on Friday, October 24 2014 at 3:42 PM

Residential rental accommodation availability in Sydney has slipped, according to data released by the Real Estate Institute of New South Wales.

The September 2014 REINSW Vacancy Rate Survey saw the
number of properties for rent across Sydney fall 0.1 per cent to 1.7 per cent.

REINSW president
Malcolm Gunning says rental vacancies have declined across Sydney, with outer
Sydney seeing the largest decline hitting a 10-month low.

“Outer Sydney vacancy
rates dropped 0.2 per cent to 1.4 per cent, while middle Sydney fell 0.3 per
cent to 1.9 per cent and inner Sydney remained steady at 1.8 per cent,” he

The Hunter region was
down 0.2 per cent at 3.1 per cent on the back of a 0.8 per cent fall in vacancy
rates in Newcastle at 1.9 per cent. This is the lowest level for Newcastle
since September 2013.

The mid-north coast was the hardest place to
find rental accommodation in regional areas at 1.4 per cent, down 0.2 per cent.

Central Coast fell 0.3 per cent to 1.7 per cent,
Albury was down 0.1 per cent at 1.6 per cent, and the Riverina dropped 0.6 per
cent to 2.8 per cent. Northern Rivers declined 1.0 per cent to 2.7 per cent.

The Central west went against the trend, which
jumped 0.5 per cent to 4.3 per cent.

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