Sydney Rental Vacancy remains at 2.1%

The Sydney residential rental market continues to be tight, according to data released by the Real Estate Institute of New South Wales.

The June 2013 REINSW Vacancy Rate Survey saw no change in the number of vacancies in the Sydney metropolitan area at 2.1 per cent, despite a third increase in a row of availability in the inner suburbs.

  • Inner suburbs (0-10km from CBD) up 0.3 per cent to 2.2 per cent
  • Middle suburbs (10-25km from CBD) remained at 1.9 per cent
  • Outer suburbs (more than 25km from CBD) down 0.2 per cent at 2.1 per cent

“The rise in the inner suburbs and the decline in vacancy rates in the outer suburbs have cancelled each other out during the month of June, leaving availability at 2.1 per cent across the Sydney metro area,” REINSW President Christian Payne said.

“While we are pleased that vacancy rates have not declined, we were hoping for a continued increase in availability in what is still a very tight market.”

Looking across the state, the Hunter region also remained steady for the month at 2.9 per cent, despite an increase of 0.1 per cent in Newcastle at 2.2 per cent.

The Illawarra saw a rise of 0.4 per cent to 2.5 per cent, with a rise of 0.3 per cent in Wollongong.

The Central Coast continued its steady rise with a jump of 0.6 per cent to 3.2 per cent and the Mid North Coast added 0.5 per cent to 2.9 per cent.

Coffs Harbour remains the easiest place to find rental accommodation despite a decline of 0.3 per cent at 3.7 per cent.

Vacancy rates remained steady in Albury at 1.8 per cent, while the South Coast and South East were both at 3.1 per cent with declines of 0.3 per cent and 0.4 per cent respectively.

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