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Rental vacancies show few signs of improvement
In September 2009, the percentage of available rental properties across Sydney remained at 1.3%.
“Unfortunately for renters, we are seeing no signs of improvement in the market,” said REINSW President Steve Martin.
In September 2009, the percentage of available properties in ‘inner’ suburbs fell 0.1% to 1.4%.
In suburbs more than 25 kilometres from the CBD, the vacancy rate rose 0.1% to 1.0%, and in Sydney’s ‘middle’ suburbs, between 10 and 25 kilometres from the CBD, rental vacancies also rose 0.1% to 1.4%.
“These results are a double-edged sword - great news for landlords but grim news for tenants,” said Mr Martin.
In the Hunter rental vacancies fell 0.1% to 1.5%, with vacancies in Newcastle also falling 0.2% to 1.6%.
In the Illawarra, overall vacancies rose 0.4% to 1.7%, while in Wollongong the percentage of available properties increased 0.3% to 1.6%.
“The results for Sydney and Newcastle are concerning and show that despite a low interest rates environment, and additional first home buyer and other buyer incentives, the rental market remains extremely fragile,” said Mr Martin.
Residential vacancy rates in NSW:
|
September
2009 |
August
2009 |
July
2009 |
June
2009 |
May
2009 |
April
2009 |
| SYDNEY |
1.3% |
1.3% |
1.5% |
1.3% |
1.3% |
1.5% |
| Inner (0-10km from CBD) |
1.4 |
1.5 |
1.8 |
1.6 |
1.4 |
1.4 |
| Middle (10-25km) |
1.4 |
1.3 |
1.5 |
1.4 |
1.5 |
1.7 |
| Outer (>25km) |
1.0 |
1.9 |
1.1 |
0.9 |
1.0 |
1.4 |
| |
|
|
|
|
|
|
| HUNTER |
1.5 |
1.6 |
1.9 |
1.8 |
1.7 |
1.9 |
| Newcastle |
1.6 |
1.8 |
1.4 |
1.6 |
1.5 |
1.7 |
| Other |
1.4 |
1.4 |
2.3 |
2.0 |
1.9 |
2.1 |
| |
|
|
|
|
|
|
| ILLAWARRA |
1.7 |
1.3 |
1.9 |
1.8 |
1.6 |
1.9 |
| Wollongong |
1.6 |
1.3 |
1.9 |
1.6 |
1.2 |
2.2 |
| Other |
1.8 |
1.3 |
1.8 |
2.3 |
2.7 |
1.4 |
| |
|
|
|
|
|
|
| Central Coast |
1.6 |
1.6 |
2.1 |
2.1 |
1.6 |
1.7 |
| |
|
|
|
|
|
|
| Albury |
1.5 |
2.3 |
2.6 |
2.5 |
2.3 |
2.1 |
| Central West |
2.0 |
2.1 |
2.5 |
2.8 |
2.2 |
2.9 |
| Coffs Harbour |
1.9 |
4.1 |
4.6 |
3.9 |
3.3 |
1.8 |
| Far West |
0.6 |
- |
- |
- |
- |
- |
| Mid-North Coast |
2.3 |
2.2 |
1.6 |
2.0 |
1.8 |
2.1 |
| Murrumbidgee |
3.6 |
- |
- |
- |
- |
- |
| New England |
2.0 |
1.7 |
2.4 |
2.8 |
1.9 |
1.8 |
| Northern Rivers |
2.3 |
1.9 |
1.9 |
2.0 |
2.2 |
2.7 |
| Orana |
1.2 |
1.4 |
1.2 |
1.0 |
1.6 |
1.6 |
| Riverina |
1.5 |
1.3 |
1.6 |
2.1 |
2.0 |
2.3 |
| South Coast |
2.9 |
2.2 |
3.5 |
3.5 |
3.5 |
3.7 |
| South Eastern |
0.8 |
1.7 |
1.6 |
1.5 |
2.5 |
1.5 |
Members can access Vacancy Rate Survey results for the years 2001 to 2008 by clicking here. 
Please direct media inquiries to Julian Brophy on 0408 276 749.
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