Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Inner Sydney vacancy rates highest for two years

17 July 2017 Tim Neary
For rent

Rental opportunities in inner Sydney have taken a turn in the last two months, with availability now at its highest level in nearly two years, new data has found.

The Real Estate Institute of New South Wales’ June 2017 Vacancy Rate Survey saw inner Sydney rise 0.3 per cent to 2.2 per cent, while the overall Sydney metropolitan area remained steady at 1.8 per cent.

REINSW president John Cunningham said the data should not be viewed in isolation, where the inner Sydney rise was offset by a 0.2 per cent drop in middle Sydney and an outer Sydney decline of 0.1 per cent.

“More stock has entered the market place in inner Sydney which has seen a rise in availability as tenants take time to fill the available accommodation,” he said.

Advertisement
Advertisement

In the Illawarra, vacancy rates rose 0.7 per cent to 2.5 per cent, with Wollongong up 1.2 per cent at 2.4 per cent.

The Hunter rose 0.2 per cent to 2.3 per cent, with Newcastle up 0.7 per cent to 2.9 per cent.

Across regional areas, Albury and New England have the highest vacancy rates at 3.1 per cent, up 0.3 per cent and down 0.1 per cent respectively.

The Riverina was down 0.2 per cent at 2.5 per cent and Northern Rivers fell 0.1 per cent to 1.6 per cent.

Inner Sydney vacancy rates highest for two years
forrent 850
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network

 

Subscribe to our RPM mailing list

 

Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.