Residential rental availability across Sydney rose despite a mixed result across city, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the November 2018 REINSW Vacancy Rate Survey saw metropolitan Sydney vacancy rates up 0.1 percentage points to 3.0 per cent.
“Demand in Inner Sydney is strong with a fall of 0.3 percentage points at 2.5 per cent, while Middle and Outer Sydney rose 0.3 and 0.2 percentage points to 3.5 and 3.0 per cent respectively,” Ms Pilkington said.
In the Hunter, vacancy rates remained steady at 1.6 per cent with no change in Newcastle’s vacancy rate which sits at 1.8 per cent. The Illawarra rose 1.0 percentage points with Wollongong up 0.5 percentage points to 2.7 per cent.
Across regional areas, New England fell 0.5 percentage points at 2.0 per cent, the Central Coast dropped 0.5 percentage points at 1.9, while the Albury and Mid-North Coast rose 0.4 and 0.6 percentage points respectively for a vacancy rate of 2.6 per cent, the highest in the state behind Sydney.