Sell with Confidence
Read More
News

More rentals available in Sydney

By Lachelle Ferguson

Sydney experienced a slight rise in rental availability over the month of January, but residential vacancy rates remain tight, new data has shown.

Data released by the Real Estate Institute of New South Wales (REINSW) shows the number of properties for rent rose from 1.0 per cent to 1.9 per cent in January, and according to REINSW deputy pPresident John Cunningham, the ‘middle’ suburbs of Sydney drove this change.

“The middle suburbs led the rise with an increase of 0.4 per cent in availability to 2.3 per cent,” he said.

“This rate was last seen just over 12 months ago in December 2012.”

Availability in the inner suburbs of Sydney remained steady at 1.8 per cent, while the outer suburbs rose by 0.1 per cent to 1.7 per cent.

“Sydney has not seen significant rises in recent months and there is a great deal of pressure on the residential property market. We must make property more attractive to investors with the appropriate invectives, especially during a time of low interest rates and a volatile share market,” Mr Cunningham said.

In the Hunter, availability slipped by 0.4 per cent to 3.1 per cent, led by a 0.4 per cent decline in Newcastle, at 2.7 per cent.

The Illawarra was a mixed bag with a 0.1 per cent increase, despite a 0.3 per cent decrease in availability in Wollongong at 1.8 per cent.

In regional areas, a slip of 0.2 per cent saw Murrumbidgee with the lowest availability at 1.8 per cent, and Albury dropped 0.4 per cent to 1.9 per cent.

Coffs Harbour rose by 0.7 per cent to 4.1 per cent and the south eastern region jumped 0.4 per cent to 4.8 per cent, the highest in the state. Northern Rivers also added 0.4 per cent at 2.7 per cent, and the Central Coast gained 0.3 per cent to 2.7 per cent.

Source: Residential Property Manager

Up to Date

Latest News

  • 6 Things To Do Before You List a Property

    1. Research & plan Before you consider selling, research the market, focusing on properties in your area. Is it a good time to sell? Where do you intend to move next? What’s your budget, including moving? You don’t need all the answers, but you should develop a clear set of goals … Read more

    Read Full Post

  • 2017 Federal Budget Highlights

    Federal Treasurer Scott Morrison’s second budget was delivered this month to Australia, with a range of changes for first home buyers, property investors and older Australians looking to downsize. Overall, the measures are designed to free up more development land and get first home buyers into the market sooner. Here … Read more

    Read Full Post