According to the latest Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey, availability across the Sydney rental market was relatively steady in July 2018.
Data showed that vacancy rates within the Sydney metropolitan region held steady at 2.8%, marking an increase of 0.1 percentage points.
Expounding on the report, REINSW Deputy President Brett Hunter revealed the market performances of specific areas in the city. "The vacancy rate fell 0.1 percentage points in both Middle and Inner Sydney at 2.9% and 2.7 % respectively, while Outer Sydney bucked the trend rising 0.3 percentage points at 2.7%."
"The Sydney vacancy rate we are seeing at the moment is in line with the winter seasonal trend," he added.
Hunter vacancy rates falling 0.2 percentage points to 1.7%. Newcastle trailed the same downward path after losing 0.2 percentage points and settling at 2.2%. Illawarra rates, meanwhile, declined 0.5 percentage points to 2.0%, and finally, Wollongong was down 0.3 percentage points to 2.0%.
Across regional areas, Albury gained 0.1 percentage points to 1.5%, while the Riverina and Central Coast’s rates were unchanged at 3.1% and 2.0%, respectively.
For reference, in the June 2018 REINSW Vacancy Rate Survey, Sydney’s rental market within the city was seen to have slowed. “The Sydney vacancy rate rose 0.3 percentage points with rises of 0.4 percentage points in both Inner and Middle Sydney, at 3.0% and 2.8% respectively, while Outer Sydney remained steady at 2.4%,” stated the report.
