|
Rental vacancies end the year higher in Sydney, lower in Newcastle and Wollongong
20 January 2012
The December rental vacancy rate for the Sydney metropolitan area rose by 0.2 per cent to 1.6 per cent, the first increase in more than 3 months. While this increase is welcomed, history shows that it is seasonal.
All areas of Sydney recorded increases in the percentage of rental properties available:
- Inner suburbs (0-10 km from the CBD) rose 0.3 to 1.5%
- Middle suburbs (10-25 km from the CBD) rose 0.3 to 2.0%
- Outer suburbs (more than 25 km from the CBD) rose 0.1 to 1.4%
The picture outside Sydney remains grim with Newcastle recording a significant decline in available properties for the second consecutive month.
In December the rental vacancy rate for Newcastle fell by 0.5 per cent to 1.1 per cent, further compounding the 0.3 per cent fall recorded in November.
The overall rental vacancy rate across the Hunter fell by 0.3 per cent to 1.1 per cent.
In Wollongong the vacancy rate fell by 0.1 per cent to 2.2 percent, while across the entire Illawarra region the percentage of available properties declined 0.2 per cent to 1.6 per cent.
Vacancy rates on the Central Coast rose slightly, up 0.1 per cent to 1.6 per cent.
REINSW President Christian Payne warned the rental situation will only become tighter as we head into 2012.
“The New Year traditionally signals an increase in demand for rental properties across the board.
“The already low levels of available rental properties are likely to be squeezed even further as people return to work and schools and universities resume for the academic year.
“Unfortunately for those seeking rental accommodation, the situation will only become more difficult in the first quarter of 2012”, he said.
|
December
2011 |
November
2011 |
October
2011 |
September
2011 |
August
2011 |
July
2011 |
| SYDNEY |
1.6 |
1.4 |
1.4 |
1.4 |
1.5 |
1.5 |
| Inner (0-10km from CBD) |
1.5 |
1.2 |
1.3 |
1.5 |
1.5 |
1.5 |
| Middle (10-25km) |
2.0 |
1.7 |
1.6 |
1.4 |
1.6 |
1.5 |
| Outer (>25km) |
1.4 |
1.3 |
1.4 |
1.3 |
1.3 |
1.6 |
| |
|
|
|
|
|
|
| HUNTER |
1.1 |
1.4 |
1.7 |
1.6 |
1.8 |
1.5 |
| Newcastle |
1.1 |
1.6 |
1.9 |
1.3 |
1.8 |
1.4 |
| Other |
1.2 |
1.4 |
1.5 |
1.8 |
1.8 |
1.6 |
| |
|
|
|
|
|
|
| ILLAWARRA |
1.6 |
1.8 |
1.7 |
1.4 |
1.6 |
1.3 |
| Wollongong |
2.1 |
2.2 |
1.8 |
1.6 |
1.6 |
1.3 |
| Other |
1.4 |
1.6 |
1.4 |
1.3 |
1.5 |
1.3 |
| |
|
|
|
|
|
|
| Albury |
1.7 |
1.4 |
1.9 |
1.7 |
1.9 |
2.0 |
| Central Coast |
1.6 |
1.5 |
1.7 |
1.9 |
2.1 |
2.0 |
| Central West |
1.9 |
1.3 |
1.7 |
1.4 |
1.3 |
1.7 |
| Coffs Harbour |
3.6 |
4.2 |
4.1 |
3.8 |
3.7 |
3.5 |
| Far West |
- |
- |
- |
- |
- |
- |
| Mid-North Coast |
1.9 |
1.6 |
1.8 |
1.9 |
1.8 |
2.1 |
| Murrumbidgee |
2.8 |
2.9 |
2.5 |
2.2 |
2.4 |
3.0 |
| New England |
2.9 |
2.4 |
2.4 |
2.4 |
2.6 |
2.5 |
| Northern Rivers |
2.7 |
2.8 |
3.0 |
3.0 |
2.6 |
3.9 |
| Orana |
1.5 |
1.5 |
1.5 |
1.2 |
1.4 |
1.6 |
| Riverina |
3.5 |
4.2 |
3.7 |
3.4 |
3.1 |
3.1 |
| South Coast |
1.9 |
2.1 |
2.2 |
2.9 |
3.1 |
2.6 |
| South Eastern |
2.2 |
1.6 |
1.5 |
1.7 |
1.9 |
1.5 |
Members can access Vacancy Rate Survey results for the years 2001 to 2011 by clicking here. 
Please direct media enquiries to Julian Brophy on 0408 276 749
|
|
|
|
|
|
| |
|
|