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Vacancy rates nudge higher

22 November 2017

Sydney vacancy rates show supply is largely meeting demand, according to October 2017 REINSW Vacancy Rate Survey.

REINSW President John Cunningham said the results saw the availability in the Sydney metropolitan up 0.1 percentage points at 2.1 per cent, on par with January 2017.

“Vacancy rates in Inner Sydney fell 0.2 per cent to 2.0 per cent, Outer Sydney gained 0.2 percentage points to 2.0 per cent, while Middle Sydney fell 0.2 percentage points at 2.2 per cent,” Mr Cunningham said.

“Parity is generally recognised at 2.0 per cent and we are currently seeing this right across Sydney.”

The Hunter slipped 0.2 percentage points at 1.8 per cent with Newcastle down 0.6 percentage points at 2.3 per cent. The Illawarra was steady at 2.5 per cent led by Wollongong up 0.2 percentage points to 2.9 per cent, a figure last seen in January 2016.

Across regional areas, Albury jumped back up to 3.2 percentage points, from 1.9 per cent, New England rose 0.5 per percentage points to 3.8 per cent and the Mid North Coast fell 0.4 percentage points at 1.7. Northern Rivers remained steady at 0.8 per cent.