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Low Sydney vacancy rates good for investors

By Staff Reporter
13 October 2009 | 1 minute read

Sydney’s rental property market is in a stalemate, figures from the Real Estate Institute of NSW (REINSW) have found.

According to the REINSW, the number of vacant rental properties across the city and in Newcastle remained stable at 1.3 per cent in September despite incentives designed to encourage people to buy homes.

The number of vacant rental properties in Sydney's outer suburbs rose by 0. 1 per cent to 1 per cent, while vacancies in the inner suburbs fell slightly to 1.4 per cent.

In the Hunter Valley rental vacancies fell 0.1 per cent to 1.5 per cent.

In the Illawarra, overall vacancies rose 0.4 per cent to 1.7 per cent while in Wollongong, the percentage of available properties increased 0.3 per cent to 1.6 per cent.

"These results are a double-edged sword; great news for landlords but grim news for tenants," REINSW president Steve Martin said.

"The results for Sydney and Newcastle are concerning and show that despite a low interest rate environment and additional first home buyer and other buyer incentives, the rental market remains extremely fragile."

According to Mr Martin, the current vacancy rates are unlikely to change in the immediate future.

Low Sydney vacancy rates good for investors
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

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