Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

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

rpm logo latest

Changing market pushes NSW vacancy rates in favour of tenants

By Eliot Hastie
18 May 2018 | 1 minute read
For rent850x400 may2017

Sydney vacancy rentals are beginning to turn and showing favourability towards renters, according to new research.

The Real Estate Institute of New South Wales said that Sydney’s residential vacancy rates have hit levels last seen in September 2012.

REINSW president Leanne Pilkington said that the REINSW Vacancy Rate Survey found that, in April, the availability in the capital had risen by 0.3 percentage points to 2.5 per cent.

Advertisement
Advertisement

“The tide is beginning to turn for tenants, with vacancy rate at five-year lows,” Ms Pilkington said.

Across Sydney, vacancy rates rose, with the biggest change rise occurring in Inner and Middle Sydney.

“In outer Sydney, vacancy rates rose [by] 0.2 percentage points to 2.5 per cent, while inner and middle Sydney both increased [by] 0.3 percentage points to 2.2 per cent and 2.9 per cent, respectively,” the president said.

Ms Pilkington added that agents are taking note and readjusting their rental expectations.

“There appears to be a saturation of supply and agents are noting that previously high rents are becoming increasingly difficult to obtain,” the president said.

Across NSW, vacancy rates experienced rises in the Hunter Region, Newcastle, Illawarra and Wollongong.

Newcastle had the biggest rise of 0.4 percentage points to 2.2 per cent, while Hunter and Wollongong both increased by 0.1 percentage point to 1.7 per cent and 2.3 per cent, respectively.

Illawarra rose by 0.3 percentage points to 2.1 per cent.

Regionally, Albury slipped by 0.4 percentage points to 1.8 per cent and Central Coast fell by 0.2 percentage points to 2.0 per cent.

Northern Rivers added 0.1 percentage points to 1.3 per cent and the South Coast gained 0.5 percentage points to 3.0 per cent.

Changing market pushes NSW vacancy rates in favour of tenants
For rent850x400 may2017
lawyersweekly logo
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings

 

Subscribe to our RPM
mailing list

 

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

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.