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Sydney's rental vacancies at highest level in 2 years
The percentage of available properties in Sydney now stands at 1.6%, an increase of just 0.3% compared to the previous month’s results.
The rental vacancy rate for Sydney is now at its highest level since August 2007.
”Even though these are the best results in two years, they are nothing to write home about,” said REINSW President Wayne Stewart.
“To end the rental crisis that has gripped NSW, we need to see a vacancy rate of between 3% and 4%.
"Unfortunately a vacancy rate of 1.6% just doesn’t cut it, even if it is the highest result we have seen since August 2007.
“The fact remains that the state’s rental crisis is only set to deepen if proposed amendments to the Residential Tenancy Act are passed.
“The new Premier needs to demonstrate she is committed to tenants and landlords by scrapping these initiatives which will see rents sky rocket and investors leave the state,” said Mr. Stewart.
Sydney’s ‘middle’ suburbs, between 10 and 15 kilometres from the CBD, recorded the highest increase of 0.8% to 2.3%.
The percentage of available properties in “inner” suburbs between 0 and 10km from CDB rose 0.2% to 1.5%.
In ‘outer’ suburbs which are more than 25 kilometres from the CBD, the vacancy rate rose 0.1% to 1.1%.
The percentage of rental vacancies in Newcastle remained unchanged at 1.6% whilst in Wollongong, available rental properties increased by 0.2 to 2%.
Residential vacancy rates in NSW:
|
November 2009 |
October
2009 |
September
2009 |
August
2009 |
July
2009 |
June
2009 |
May
2009 |
| SYDNEY |
1.6% |
1.3% |
1.3% |
1.3% |
1.5% |
1.3% |
1.3% |
| Inner (0-10km from CBD) |
1.5 |
1.3 |
1.4 |
1.5 |
1.8 |
1.6 |
1.4 |
| Middle (10-25km) |
2.3 |
1.5 |
1.4 |
1.3 |
1.5 |
1.4 |
1.5 |
| Outer (>25km) |
1.1 |
1.0 |
1.0 |
1.9 |
1.1 |
0.9 |
1.0 |
| |
|
|
|
|
|
|
|
| HUNTER |
1.7 |
1.6 |
1.5 |
1.6 |
1.9 |
1.8 |
1.7 |
| Newcastle |
1.6 |
1.6 |
1.6 |
1.8 |
1.4 |
1.6 |
1.5 |
| Other |
1.6 |
1.5 |
1.4 |
1.4 |
2.3 |
2.0 |
1.9 |
| |
|
|
|
|
|
|
|
| ILLAWARRA |
1.5 |
1.8 |
1.7 |
1.3 |
1.9 |
1.8 |
1.6 |
| Wollongong |
2.0 |
1.8 |
1.6 |
1.3 |
1.9 |
1.6 |
1.2 |
| Other |
1.1 |
1.7 |
1.8 |
1.3 |
1.8 |
2.3 |
2.7 |
| |
|
|
|
|
|
|
|
| Central Coast |
1.3 |
1.5 |
1.6 |
1.6 |
2.1 |
2.1 |
1.6 |
| |
|
|
|
|
|
|
|
| Albury |
2.3 |
1.8 |
1.5 |
2.3 |
2.6 |
2.5 |
2.3 |
| Central West |
1.5 |
1.8 |
2.0 |
2.1 |
2.5 |
2.8 |
2.2 |
| Coffs Harbour |
2.4 |
2.7 |
1.9 |
4.1 |
4.6 |
3.9 |
3.3 |
| Far West |
- |
0.4 |
0.6 |
- |
- |
- |
- |
| Mid-North Coast |
1.2 |
1.5 |
2.3 |
2.2 |
1.6 |
2.0 |
1.8 |
| Murrumbidgee |
3.4 |
2.9 |
3.6 |
- |
- |
- |
- |
| New England |
1.6 |
2.9 |
2.0 |
1.7 |
2.4 |
2.8 |
1.9 |
| Northern Rivers |
1.7 |
2.4 |
2.3 |
1.9 |
1.9 |
2.0 |
2.2 |
| Orana |
1.2 |
1.1 |
1.2 |
1.4 |
1.2 |
1.0 |
1.6 |
| Riverina |
2.6 |
4.1 |
1.5 |
1.3 |
1.6 |
2.1 |
2.0 |
| South Coast |
2.5 |
2.1 |
2.9 |
2.2 |
3.5 |
3.5 |
3.5 |
| South Eastern |
2.5 |
5.3 |
0.8 |
1.7 |
1.6 |
1.5 |
2.5 |
Members can access Vacancy Rate Survey results for the years 2001 to 2008 by clicking here. 
Please direct media enquiries to Julian Brophy on 0408 276 749.
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