admin-ajax.php

Rental vacancy rates falling further

The rental property vacancy rate in inner Sydney has fallen below 1% according to the latest figures from the Real Estate Institute of NSW.

And the situation is even tighter for Sydney suburbs within a 10-kilometre radius of the CBD where vacancies fell 0.2 per cent to 0.9 per cent in April.

“To have Australia’s largest city measuring its rental vacancy rates in the tenths of one per cent, is quite frankly an alarming position to find ourselves in,” REINSW President Wayne Stewart said yesterday.

“Unfortunately though as shocking as this result is, it is hardly surprising given that governments of all persuasions have steadfastly ignored the rental crisis for years.”

Suburbs further out are better off, with rental vacancies in suburbs 10 to 25km from the CBD rising 0.3 per cent to 1.4 per cent.

In suburbs more than 25 km from CBD the vacancy rate rose 0.2 per cent to 1.4 per cent.

Overall the Sydney rental vacancy rate covering all areas of the city rose 0.1 per cent to 1.2 per cent.

In Newcastle and Wollongong the percentage of available properties increased slightly, while in the Hunter region the vacancy rate rose 0.2 per cent to 1.5 per cent.

The Illawarra remained unchanged at 1.3 per cent, and on the Central Coast rental vacancies stayed at 1.6 per cent.



icon-podcast-large

SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

icon-email-large

PREFER TO SUBSCRIBE VIA EMAIL?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Rental vacancy rates falling further' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!