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Holiday season impacts vacancy rates: REINSW

Residential vacancy rates were affected by the Christmas period, according to data released by the Real Estate Institute of New South Wales.

REINSW President John Cunningham said the December 2016 REINSW Vacancy Rate Survey was at 2.0 per cent, up 0.2 per cent for Sydney.

“Middle Sydney and Outer Sydney saw rises of 0.6 per cent and 0.2 per cent to 2.1 per cent and 2.0 per cent respectively, while Inner Sydney bucked the trend to fall 0.2 per cent at 1.8 per cent.

“The changes seen to vacancy rates in Sydney and right across the state reflect the holiday period, we anticipate a flurry of activity as the year progresses,” Mr Cunningham said.

The Hunter rose 0.2 per cent to 2.2 per cent led by an increase in Newcastle of 0.7 per cent to 2.4 per cent.

In the Illawarra, vacancy rates fell 0.3 per cent at 1.3 per cent with Wollongong down 0.5 per cent at 1.5 per cent.

Across regional areas, Albury fell 0.1 per cent at 3.3 per cent, New England fell 0.5 per cent at 3.7 per cent and South Coast slipped 0.2 per cent at 1.2 per cent.

* 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.

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