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October rental vacancies show marginal improvement
15 November 2011
October’s rental vacancy rate remained unchanged at 1.4% for the second consecutive month.
Vacancy rates rose only slightly in Sydney’s middle suburbs (10-25km from the CBD), up 0.2 to 1.6%, and in the outer suburbs (more than 25 km from the CBD) was up 0.1 to 1.4%.
Vacancy rates fell 0.2% to 1.3% in inner suburbs (0-10km from the CBD).
The picture is slightly better in metropolitan centres outside Sydney, with vacancy rates up 0.6% to 1.9% in Newcastle and up 0.2% to 1.8% in Wollongong.
Vacancy rates fell on the Central Coast, down 0.2 to 1.7 percent.
“Despite increases in some areas, the overall rental vacancy outlook in NSW remains depressed,” said REINSW President Wayne Stewart.
“The rental crisis that has dramatically reduced housing availability across NSW, requires immediate and sustained action by both the state and federal governments to stimulate investment in the residential property market.
“There will be no relief for tenants until we see interventionist action to encourage private investment, as well as slashing that planning red tape which is slowing new residential development.
“To create a stable and healthy rental vacancy rate that meets both the needs of tenants as well as landlords, we need to see significant numbers of new rental properties being brought online.
“Until then, we will see growing numbers of people competing against each other for an ever smaller number of available properties,” said Mr Stewart.
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October
2011 |
September
2011 |
August
2011 |
July
2011 |
June
2011 |
May
2011 |
| SYDNEY |
1.4 |
1.4 |
1.5 |
1.5 |
1.5 |
1.4 |
| Inner (0-10km from CBD) |
1.3 |
1.5 |
1.5 |
1.5 |
1.4 |
1.1 |
| Middle (10-25km) |
1.6 |
1.4 |
1.6 |
1.5 |
1.3 |
1.5 |
| Outer (>25km) |
1.4 |
1.3 |
1.3 |
1.6 |
1.7 |
1.5 |
| |
|
|
|
|
|
|
| HUNTER |
1.7 |
1.6 |
1.8 |
1.5 |
1.3 |
1.3 |
| Newcastle |
1.9 |
1.3 |
1.8 |
1.4 |
1.3 |
1.5 |
| Other |
1.5 |
1.8 |
1.8 |
1.6 |
1.3 |
1.2 |
| |
|
|
|
|
|
|
| ILLAWARRA |
1.7 |
1.4 |
1.6 |
1.3 |
1.2 |
1.3 |
| Wollongong |
1.8 |
1.6 |
1.6 |
1.3 |
0.9 |
1.3 |
| Other |
1.4 |
1.3 |
1.5 |
1.3 |
1.4 |
1.3 |
| |
|
|
|
|
|
|
| Albury |
1.9 |
1.7 |
1.9 |
2.0 |
2.4 |
2.6 |
| Central Coast |
1.7 |
1.9 |
2.1 |
2.0 |
2.6 |
2.1 |
| Central West |
1.7 |
1.4 |
1.3 |
1.7 |
1.6 |
2.0 |
| Coffs Harbour |
4.1 |
3.8 |
3.7 |
3.5 |
3.4 |
3.1 |
| Far West |
- |
- |
- |
- |
- |
- |
| Mid-North Coast |
1.8 |
1.9 |
1.8 |
2.1 |
2.0 |
1.8 |
| Murrumbidgee |
2.5 |
2.2 |
2.4 |
3.0 |
2.6 |
2.7 |
| New England |
2.4 |
2.4 |
2.6 |
2.5 |
2.5 |
2.4 |
| Northern Rivers |
3.0 |
3.0 |
2.6 |
3.9 |
3.8 |
3.1 |
| Orana |
1.5 |
1.2 |
1.4 |
1.6 |
1.7 |
1.9 |
| Riverina |
3.7 |
3.4 |
3.1 |
3.1 |
3.0 |
3.4 |
| South Coast |
2.2 |
2.9 |
3.1 |
2.6 |
2.6 |
1.7 |
| South Eastern |
1.5 |
1.7 |
1.9 |
1.5 |
1.5 |
1.5 |
Members can access Vacancy Rate Survey results for the years 2001 to 2010 by clicking here. 
Please direct media enquiries to Julian Brophy on 0408 276 749
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