Sydney vacancy rates fall
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Sydney vacancy rates fall
Posted on Tuesday, August 18 2015 at 2:30 PM
A tightening in Sydney’s vacancy rate shows supply is meeting demand, according to the Real estate Institute of New South Wales (REINSW).
The July 2015 REINSW Vacancy Rate Survey reveals the
number of properties for rent across Sydney fell 0.2 per cent to 1.9 per cent.
Malcolm Gunning, president of the REINSW, says the
supply of available rentals is strong, and is being taken up by tenants.
“Vacancy rates remain close to 2.0 per cent which
shows that supply is starting to meet demand.
“Despite the 0.2 per cent decline month on month we
still we think it is a good result and shows a strong
stream of property on the market starting to feed the migration into Sydney.”
Inner Sydney tightened by 0.5 per cent to 2.1 per
cent, while Middle Sydney saw falls in availability of 0.2 per cent at 1.7 per
cent.
“Outer Sydney has hit levels last seen in December
2014,” Gunning says.
Hi comments are based on a drop in the vacancy figure
of 0.1 per cent to 1.6 per cent Outer Sydney.
In locations further afield, the Hunter region saw
availability rise 0.2 per cent to 3.7 per cent.
The region with greatest availability was New England,
which jumped 1.2 per cent at 4.6 per cent.
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