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In most areas of NSW, residential vacancy rates have remained stable in November, according to the REINSW.
Leanne Pilkington, president of the REINSW, said that the November 2017 REINSW Vacancy Rate Survey saw little movement across the inner, middle and outer rings of Sydney, with all hovering around 2.1 per cent.
“Vacancy rates in Middle Sydney remained unchanged at 2.2 per cent, while Inner and Middle Sydney both saw an increase of 0.1 percentage points to 2.2 per cent,” Ms Pilkington said.
Meanwhile, in the Hunter region, Newcastle held steady at a vacancy rate of 2.3 per cent for November, while other areas saw a slight rise of 0.2 percentage points to 1.8 per cent, which saw the overall vacancy rate for the region rise by 0.2 percentage points to 2 per cent.
In the Illawarra, the main market of Wollongong saw a relatively dramatic decrease in its vacancy rate of 1.3 per cent down to 1.6 per cent. Other areas also decreased by 0.3 percentage points to 1.9 per cent, with the overall vacancy rate falling by 0.7 percentage points to 1.8 per cent.
Looking at regional areas, the most drastic change was noticed in the South Eastern region, with the vacancy rate falling by 3.5 percentage points to 2.9 per cent. However, this fluctuation was noted as a seasonal variation.
Following this was the New England region with a fall of 1.5 percentage points to 2.3 per cent, then Coffs Harbour with a fall of 1.1 percentage points to 2 per cent, Orana with a fall of 0.6 percentage to 2.3 per cent, Murrumbidgee with a fall of 0.5 percentage points to 1.1 per cent, South Coast with a fall of 0.4 percentage points to 1.2 per cent and Albury with a fall of 0.2 percentage points to 3 per cent.
In terms of vacancy rate rises, the Central West region saw the largest increase at 0.6 percentage points to 2.5 per cent, followed by the Central Coast with a rise of 0.4 percentage points to 2.5 per cent.
The Northern Rivers, Mid-North Coast and Riverina all held steady over November, with their respective vacancy rates of 0.8 per cent, 1.7 per cent and 2.9 per cent.
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