Residential vacancy rates jumped in Middle Sydney as more stock comes onto the market, according to data released by the Real Estate Institute of New South Wales.
REINSW President John Cunningham said the September 2016 REINSW Vacancy Rate Survey Middle Sydney rise 0.5 per cent to 2.1 per cent, leading a 0.1 per cent increase in the overall Sydney vacancy rate to 1.9 per cent.
“The Middle Sydney vacancy rate has been affected by more stock coming onto the market,” Mr Cunningham said.
“Elsewhere across Sydney, the Inner Sydney vacancy rate fell 0.1 per cent to 1.8 per cent and Outer Sydney rose 0.1 per cent to 1.8 per cent,” Mr Cunningham said.
In the Hunter region, vacancy rates dropped 0.5 per cent to 2.2, led by a tightening of the Newcastle market at 1.9 per cent down 1.1 per cent.
In the Illawarra region, vacancy rates are back at levels seen six months ago at 1.3 per cent down 0.3 per cent. Wollongong was up 0.2 per cent at 1.3 per cent.
Across regional areas, Albury was down 0.2 per cent at 2.9 per cent, Northern Rivers fell 0.3 per cent at 1.0 per cent and New England remained steady at 3.9 per cent.
To view REINSW’s survey results, click here.
* 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.
