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

Sydney vacancy rate increases as demand falls, supply increases

By Tim Neary
17 April 2019 | 1 minute read
forrent house reb 1

The Sydney vacancy rate has increased by 40 basis points, from 3.2 per cent in February to 3.6 per cent in March, according to the March REINSW Residential Vacancy Rate Report.

The report also found that the Illawarra region fell to 2.2 per cent in the same period, while the Hunter region remained steady at 1.7 per cent.

Both inner and outer Sydney saw slight increases, 80 basis points and 40 basis points, respectively; while middle Sydney had a vacancy rate of 3.1 per cent, which is a drop of 50 basis points from the previous month.

Advertisement
Advertisement

Vacancy rates in the Hunter region remained steady, particularly in Newcastle where there was a 2.1 per cent vacancy rate in both February and March. Other areas in the region dropped by 10 basis points from February to 1.5 per cent this month.

Wollongong and its surrounding areas saw 20 basis points fall in rental vacancies, from 2.4 per cent on 15 February to 2.2 per cent on 15 March.

The report found that the rest of NSW saw mild increases in six key areas: the Central Coast to 2.8 per cent; the Central West to 2.0 per cent; Coffs Harbour to 2.1 per cent; Mid-North Coast to 2.8 per cent; Orana to 1.8 per cent; and South Eastern to 2.9 per cent.

On the other hand, Albury, with 0.8 of a percentage point vacancy rate; Murrumbidgee, with 0.9 of a percentage point; New England, with 2.2 per cent; and the South Coast regions, with 2.6 per cent, all saw decreases this month of between 30 and 50 basis points.

REINSW president Leanne Pilkington said that the findings are not surprising.

“The vacancy rate in Sydney’s inner ring, in areas such as Ashfield, Leichardt and Marrickville, increased in March due to lower demand and high supply. Sydney’s outer ring is also experiencing a similar situation,” she said.

“Feedback from real estate agencies in areas such as Baulkham Hills and Blacktown has been that old, dated units are harder to lease for the same price they had been getting previously, and landlords are unwilling to drop rental prices.

“In contrast, Sydney’s middle ring is experiencing a decline in vacant properties. According to real estate agencies, in areas such as Strathfield and Parramatta, landlords have been willing to reduce rents to attract tenants.”

Sydney vacancy rate increases as demand falls, supply increases
forrent house reb 1
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.