The latest Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey showed that rental availability in Sydney has increased.
The city saw its vacancy rates track higher by 0.1 percentage point to 2.9% over October.
REINSW President Leanne Pilkington said that the result was caused by the slowdown in rental accommodation in the Inner and Middle Sydney, as well as the interest hike in the Outer Sydney market.
REINSW reported that the vacancy rate in Inner Sydney rose 0.4 percentage points to 2.8%. Middle Sydney’s rate increased 0.1 percentage points to 3.2%, while Outer Sydney’s vacancy rate declined 0.1 percentage points to 2.8%.
Hunter's vacancy rates also bucked the trend, dipping 0.3 percentage points to 1.6%.
Newcastle similarly saw a drop of 1.1 percentage points to 1.8%.
The Illawarra fell 0.1 percentage point, despite Wollongong rising 0.1 percentage points to 2.2%.
Across regional areas, Albury remained stable at 2.2%. New England rose 0.3 percentage points to 2.5% and the South Coast sank 0.1 percentage point to 1.8%.
