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Festive season impacts rental market

17 February 2017

Residential vacancy rates were again influenced by the summer holidays and festive season, according to the REINSW Vacancy Rate Survey.

REINSW President John Cunningham said the January 2017 results saw the Sydney metropolitan market up 0.1 per cent to 2.1 per cent.

“Inner Sydney and Outer Sydney saw an increase of 0.1 per cent and 0.2 per cent to 1.9 per cent and 2.2 per cent respectively, while Middle Sydney remained steady at 2.1 per cent,” Mr Cunningham said.

“Activity was limited prior to Australia Day with the desire to search for new rental accommodation low on the agenda during this busy time. 

“We started to see a recovery in the market as the month progressed,” Mr Cunningham said. 

The Hunter rose 0.1 per cent to 2.3 per cent despite a fall of 0.4 per cent in Newcastle at 2.0 per cent. In the Illawarra, vacancy rates rose 0.1 per cent at 1.4 per cent with Wollongong back up 0.6 per cent at 2.1 per cent. 

Across regional areas, the Mid-North Coast rose 0.2 per cent at 2.0 per cent, Coffs Harbour saw an increase of 0.5 per cent to 2.6 per cent and Albury rose 0.7 per cent to 4.0 per cent. 

See the full results here.