Sydney’s residential vacancy rates and availability across the city have fallen, according to data released by the Real Estate Institute of New South Wales.
The November 2015 REINSW Vacancy Rate Survey saw the number of properties for rent drop 0.2 per cent at 1.7 per cent.
REINSW President John Cunningham said inner Sydney fell 0.3 per cent to 1.8 per cent, middle Sydney slipped 0.2 per cent to 1.7 per cent and outer Sydney rose 0.1 per cent to 1.7 per cent.
“The popularity of inner Sydney was recognised during the month of November and the flood of new apartments reaching completion declined to see vacancy rates hit their lowest level since May,” Mr Cunningham said.
Elsewhere, the Hunter region slipped 0.2 per cent to 2.5 per cent with Newcastle down 0.1 per cent at 2.1 per cent.
In the Illawarra the overall vacancy rate fell 0.9 per cent to 1.0 per cent with Wollongong slipping from 2.6 per cent to 1.1 per cent.
In the regional areas Albury fell 0.4 per cent at 2.4 per cent, Orana fell 0.2 per cent to 2.1 per cent, while Central Coast rose 0.3 per cent to 2.2 per cent and Northern Rivers was up 0.3 per cent at 1.5 per cent.
For further information or to arrange an interview with REINSW President John Cunningham, please contact: Helen Hull – 0419 642 961 or [email protected].
* Suburbs included in ‘inner’, ‘middle’ and ‘outer’ Sydney are those falling within the Sydney Statistical Division as per the Australian Standard Geographic Classification of the Australian Bureau of Statistics.
‘Inner’ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.
‘Middle’ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.
‘Outer’ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.