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Sydney vacancy rates favour tenants

15 May 2018

Renters are on the front foot as Sydney’s residential vacancy rate hits levels last seen in September 2012, according to the April 2018 REINSW Vacancy Rate Survey.

REINSW President Leanne Pilkington said availability rose 0.3 percentage points to 2.5 per cent for the Sydney metropolitan area.  

“The tide is beginning to turn for tenants with vacancy rates at 5-year lows,” Ms Pilkington said. 

“There appears to be a saturation of supply, and agents are noting that previously high rents are becoming increasingly difficult to obtain."

In Outer Sydney vacancy rates rose 0.2 percentage points to 2.5 per cent, while Inner Sydney and Middle Sydney both increased 0.3 percentage points to 2.2 per cent and 2.9 per cent respectively.

In the Hunter, vacancy rates rose 0.1 percentage points to 1.7 per cent, with Newcastle up 0.4 percentage points at 2.2 per cent. The Illawarra added 0.3 percentage points to 2.1 per cent with Wollongong increasing 0.1 percentage points to 2.3 per cent. 

Across regional areas, Albury slipped 0.4 percentage points at 1.8 per cent, the Central Coast fell 0.2 percentage points at 2.0 per cent, while the Northern Rivers added 0.1 percentage points to 1.3 per cent and the South Coast gained 0.5 percentage points to 3.0 per cent.

See the survey results in full here.