Residential rental availability across Sydney rose despite mixed results across the city over the month of November, reflecting a decline in demand from Sydneysiders.
According to the Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey, metropolitan Sydney vacancy rates increased by 0.1 percentage points to 3%.
REINSW President Leanne Pilkington said that Inner Sydney vacancy rates tracked the opposite direction, down 0.3 percentage points to 2.5%.
Middle and Outer Sydney, on the other hand, rose 0.3 and 0.2 percentage points to 3.5 and 3%, respectively.
In the Hunter, vacancy rates were steady at 1.6%, with Newcastle’s vacancy rate remaining unchanged at 1.8%. The Illawarra, meanwhile, climbed one percentage point, with Wollongong increasing 0.5 percentage points to 2.7%.
Looking at the data from regional areas, New England slid 0.5 percentage points to 2%, and the Central Coast dropped 0.5 percentage points at 1.9.
Albury and Mid-North Coast rose by 0.4 and 0.6 percentage points, respectively, for a vacancy rate of 2.6%, marking the highest record in the state after Sydney.
The REINSW Vacancy Rate Survey showed that rental availability in Sydney also increased in October, with vacancy rates climbing 0.1 percentage point from the previous month to 2.9%.
