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Rental vacancies slump in Sydney, Newcastle and Wollongong
27 October 2010
The latest rental data released by REINSW shows vacancies in September deteriorated across Sydney, Newcastle and Wollongong.
The overall rental vacancy rate in Sydney fell 0.3% to 1.2% percent in September.
Newcastle recorded the greatest fall of the three major urban centres in the State, dropping 0.5% to 1.2%.
Wollongong also deteriorated, falling 0.2% to 1.8%.
“Unfortunately the rental market in our major metropolitan centres has worsened in September and the prospects for renters no matter where they choose to live are grim indeed,” said REINSW President Wayne Stewart.
“And for those people coming from other parts of the State or Australia to live in Sydney, Newcastle and Wollongong the message is blunt – organise rental accommodation well in advance.
“As more and more people move to our urban centres, available property will not only become scarcer but more expensive.
“We need dramatic and urgent intervention by the State Government to reduce property related taxes, simplify planning laws and better utilise our land resources to meet current and future demand.
“This is a fundamental issue for the 2011 State Election with voters looking for a long term solution to this crisis,” said Mr Stewart.
Decreases in rental vacancies were recorded in the following areas of Sydney:
- ‘Outer’ suburbs (More than 25 km from CBD) fell 0.3% to 1.1%
- ‘Middle’ suburbs (10-25km from CBD) which fell 0.4% to 1.4%
Sydney’s ‘Inner suburbs’ (0 to 10km from CBD) remained unchanged at 1.3%
Overall across the Hunter region, the percentage of rental vacancies decreased 0.5% to 1.3% whilst in the Illawarra, the percentage of rental vacancies fell 0.2% to 1.6%.
Central Coast rental vacancies fell 0.6% to 1.6% for September.
|
September
2010 |
August
2010 |
July
2010 |
June
2010 |
May
2010 |
April
2010 |
March 2010 |
| SYDNEY |
1.2 |
1.5 |
1.6 |
1.3 |
1.2 |
1.3 |
1.1 |
| Inner (0-10km from CBD) |
1.3 |
1.3 |
1.6 |
1.3 |
1.2 |
1.3 |
1.1 |
| Middle (10-25km) |
1.4 |
1.8 |
2.0 |
1.6 |
1.3 |
1.5 |
1.1 |
| Outer (>25km) |
1.1 |
1.4 |
1.3 |
1.1 |
1.2 |
1.2 |
1.0 |
| |
|
|
|
|
|
|
|
| HUNTER |
1.3 |
1.8 |
1.7 |
2.0 |
1.6 |
1.8 |
1.4 |
| Newcastle |
1.2 |
1.7 |
1.7 |
2.1 |
1.6 |
1.9 |
1.5 |
| Other |
1.5 |
1.9 |
1.8 |
1.9 |
1.6 |
1.7 |
1.4 |
| |
|
|
|
|
|
|
|
| ILLAWARRA |
1.6 |
1.8 |
1.6 |
1.5 |
1.3 |
0.9 |
1.1 |
| Wollongong |
1.8 |
2.0 |
1.4 |
1.7 |
1.1 |
0.9 |
1.1 |
| Other |
1.4 |
1.6 |
1.7 |
1.5 |
1.4 |
1.0 |
1.2 |
| |
|
|
|
|
|
|
|
| Central Coast |
1.6 |
2.2 |
2.1 |
2.3 |
1.9 |
2.0 |
1.6 |
| |
|
|
|
|
|
|
|
| Albury |
1.9 |
2.5 |
2.7 |
2.1 |
2.5 |
2.7 |
2.1 |
| Central West |
2.2 |
1.4 |
1.7 |
1.5 |
2.4 |
1.4 |
1.4 |
| Coffs Harbour |
2.9 |
3.0 |
2.9 |
3.0 |
3.6 |
2.4 |
2.7 |
| Far West |
- |
- |
- |
- |
- |
- |
- |
| Mid-North Coast |
1.7 |
2.2 |
2.6 |
2.5 |
2.2 |
2.8 |
1.9 |
| Murrumbidgee |
3.1 |
4.0 |
4.2 |
4.3 |
3.1 |
2.6 |
3.4 |
| New England |
2.0 |
1.9 |
2.1 |
2.3 |
2.7 |
2.0 |
2.1 |
| Northern Rivers |
2.3 |
3.0 |
3.0 |
2.0 |
2.1 |
2.4 |
2.3 |
| Orana |
1.8 |
1.7 |
2.8 |
3.3 |
2.6 |
2.1 |
1.9 |
| Riverina |
3.1 |
3.1 |
3.5 |
3.5 |
4.2 |
5.1 |
2.8 |
| South Coast |
1.5 |
1.6 |
2.7 |
2.3 |
2.2 |
3.2 |
1.7 |
| South Eastern |
1.1 |
0.9 |
1.0 |
1.0 |
1.6 |
1.0 |
0.9 |
Members can access Vacancy Rate Survey results for the years 2001 to 2009 by clicking here. 
Please direct media enquiries to Julian Brophy on 0408 276 749
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