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Rental vacancy increase not enough to meet traditional spike in demand in January
22 December 2010
Rental vacancies in Sydney and Newcastle increased in November, but not enough to make any real impact in the tight market which continues to grip the state. Wollongong recorded a fall in available properties.
The overall rental vacancy rate in Sydney rose 0.2% to 1.3%, still well below the highest result of the year of 1.7% recorded in January.
“While any increase in available rental property is welcome, the small increases recorded in November will simply not make a dent in the deficit between supply and demand,” said REINSW President Wayne Stewart.
“There is no point celebrating a single month of increases when the trend established over the last few years clearly shows a rental market stuck in the doldrums.
“We really need to see increases in the order of one to two percent before we can say with any confidence that supply is coming close to meeting actual demand.
“The fact of the matter is that increases of that magnitude are not going to occur unless there is significant intervention by the State and Federal Governments to make investment in the rental market easier and financially rewarding,” said Mr Stewart.
Rental vacancies in November increased in all parts of Sydney:
• Inner suburbs (0-10km from CBD) rose 0.1% to 1.2%
• Middle suburbs (10-25km from CBD) rose 0.2% to 1.4%
• Outer suburbs (more than 25 km from CBD) rose 0.1% to 1.3%
In Newcastle rental vacancies rose 0.4% to 1.8%, while across the Hunter overall vacancies rose 0.2% to 1.6%.
Wollongong’s rental vacancy rate fell 0.1% to 1.6%, while the overall rental vacancy rate for the Illawarra rose 0.1% to 1.7%.
Central Coast recorded a 0.3% increase in rental vacancies to 2.6%.
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November
2010 |
October
2010 |
September
2010 |
August
2010 |
July
2010 |
June
2010 |
May
2010 |
| SYDNEY |
1.3 |
1.1 |
1.2 |
1.5 |
1.6 |
1.3 |
1.2 |
| Inner (0-10km from CBD) |
1.2 |
1.1 |
1.3 |
1.3 |
1.6 |
1.3 |
1.2 |
| Middle (10-25km) |
1.4 |
1.2 |
1.4 |
1.8 |
2.0 |
1.6 |
1.3 |
| Outer (>25km) |
1.3 |
1.2 |
1.1 |
1.4 |
1.3 |
1.1 |
1.2 |
| |
|
|
|
|
|
|
|
| HUNTER |
1.6 |
1.4 |
1.3 |
1.8 |
1.7 |
2.0 |
1.6 |
| Newcastle |
1.8 |
1.4 |
1.2 |
1.7 |
1.7 |
2.1 |
1.6 |
| Other |
1.4 |
1.5 |
1.5 |
1.9 |
1.8 |
1.9 |
1.6 |
| |
|
|
|
|
|
|
|
| ILLAWARRA |
1.7 |
1.6 |
1.6 |
1.8 |
1.6 |
1.5 |
1.3 |
| Wollongong |
1.6 |
1.7 |
1.8 |
2.0 |
1.4 |
1.7 |
1.1 |
| Other |
1.8 |
1.6 |
1.4 |
1.6 |
1.7 |
1.5 |
1.4 |
| |
|
|
|
|
|
|
|
| Central Coast |
2.6 |
2.3 |
1.6 |
2.2 |
2.1 |
2.3 |
1.9 |
| |
|
|
|
|
|
|
|
| Albury |
1.9 |
1.7 |
1.9 |
2.5 |
2.7 |
2.1 |
2.5 |
| Central West |
1.7 |
1.5 |
2.2 |
1.4 |
1.7 |
1.5 |
2.4 |
| Coffs Harbour |
1.9 |
1.6 |
2.9 |
3.0 |
2.9 |
3.0 |
3.6 |
| Far West |
- |
- |
- |
- |
- |
- |
- |
| Mid-North Coast |
1.2 |
1.6 |
1.7 |
2.2 |
2.6 |
2.5 |
2.2 |
| Murrumbidgee |
2.4 |
3.9 |
3.1 |
4.0 |
4.2 |
4.3 |
3.1 |
| New England |
1.9 |
1.6 |
2.0 |
1.9 |
2.1 |
2.3 |
2.7 |
| Northern Rivers |
1.7 |
2.5 |
2.3 |
3.0 |
3.0 |
2.0 |
2.1 |
| Orana |
1.6 |
2.1 |
1.8 |
1.7 |
2.8 |
3.3 |
2.6 |
| Riverina |
2.7 |
4.0 |
3.1 |
3.1 |
3.5 |
3.5 |
4.2 |
| South Coast |
1.7 |
1.4 |
1.5 |
1.6 |
2.7 |
2.3 |
2.2 |
| South Eastern |
1.0 |
0.9 |
1.1 |
0.9 |
1.0 |
1.0 |
1.6 |
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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