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Sydney rental property vacancies rise

On Feb 14 2013
Tagged as:
  • NSW


Rental property availability across Sydney has risen, according to new statistics. The Real Estate ...

Rental property availability across Sydney has risen, according to new statistics.

The Real Estate Institute of New South Wales (REINSW) found the Sydney metropolitan area experienced a 0.3 per cent jump in vacancies to 2.2 per cent.

The outer suburbs - residential real estate located more than 25 km from the CBD - enjoyed the largest increase, climbing 0.4 per cent to 2.2 per cent.

Elsewhere, the middle suburbs - between ten and 25 km from the CBD - edged forward 0.1 per cent to 2.4 per cent, while inner suburb availability saw 0.2 per cent growth to two per cent.

Coffs Harbour continued its run as the easiest area to find accommodation in NSW, with vacancy rates reaching 4.3 per cent, while the Orana region was considered the most difficult location - falling 0.3 per cent to 1.7 per cent.

REINSW president Christian Payne claimed the positive figures were largely to be expected due to Christmas and the new year, but the organisation predicts the market will tighten over the next few months.

"The shortage of rental accommodation looks set to continue because the NSW government has simply not done enough to encourage investment in the property market," he argued.



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