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Pressure being felt across rental market

17 May 2017

Residential vacancy rates across Sydney are showing no signs of relief, according to the REINSW Vacancy Rate Survey.

REINSW President John Cunningham said the April 2017 results saw the Sydney metropolitan area remain steady at 1.7 per cent, despite a decline of 0.2 per cent at 1.2 per cent in Middle Sydney. 

“A vacancy rate under 2.0 per cent signals that there are supply issues across Sydney,” Mr Cunningham said.

“This is particularly being seen in the Middle Suburbs which are 10km-25km from the CBD, where we have vacancy rates at the lowest level since March 2011. 

“Inner Sydney vacancy rates fell 0.1 per cent at 1.5 per cent and Outer Sydney bucked the trend to rise 0.1 per cent at 2.2 per cent.” 

REINSW Deputy President and President-elect Leanne Pilkington spoke to Ten Eyewitness News about the vacancy rates. Watch it here.

Vacancy rates figures

The Hunter rose 0.3 per cent to 2.3 per cent, largely due to an increase of 0.3 per cent in Newcastle to 2.3 per cent. In the Illawarra, vacancy rates slipped 0.1 per cent at 1.4 per cent despite a rise of 0.1 per cent to 1.3 per cent in Wollongong. 

Across regional areas, Albury’s vacancy rate jumped 0.8 per cent to 3.0 per cent, Coffs Harbour rose 0.9 per cent to 3.8 per cent and New England rose 0.9 per cent to 3.0 per cent. The Northern Rivers added 0.1 per cent to 1.1 per cent, while the South Coast fell 0.2 per cent at 1.2 per cent. View the full results here.