Limited movement for Sydney residential vacancy rate

Limited movement for Sydney residential vacancy rate

Residential vacancy rates remain tight across the Sydney market as the year draws to a close, according to data released by the Real Estate Institute of New South Wales.

REINSW President John Cunningham said the November 2016 REINSW Vacancy Rate Survey was at 1.8 per cent, up 0.1 per cent for Sydney.  

“Middle Sydney and Outer Sydney remained the same with a vacancy rate of 1.5 per cent and 1.8 per cent respectively, while Inner Sydney rose 0.1 per cent at 2.0 per cent,” Mr Cunningham said. 

“Stock continues to enter the marketplace, especially in Inner Sydney which is seeing vacancy rates increase slightly.” 

The Hunter slipped 0.2 per cent at 2.0 per cent, with Newcastle dropping 0.7 per cent at 1.7 per cent.

In the Illawarra, vacancy rates remained steady at 1.6 per cent, despite a rise of 0.4 per cent in Wollongong to 2.0 per cent. 

Across regional areas, New England saw an increase of 0.4 per cent at 4.2 per cent, the mid north coast slipped 0.1 per cent at 2.0 per cent and Albury fell 0.5 per cent at leapt to 3.4 per cent.”

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