The rental market tightened across all areas of Sydney in February according to new figures from the Real Estate Institute of New South Wales (REINSW).
According to the REINSW’s Vacancy Rate Survey for February, Sydney’s vacancy rate declined 0.3% to a city-wide mark of 2%, with varying falls recorded across the city.
“Vacancy rates in Inner Sydney fell 0.6% to 1.3%, while Middle Sydney dropped 0.2% to 1.6% and Outer Sydney fell 0.2% to 2.1%,” REINSW president John Cunningham said.
The February fall for Middle Sydney means its vacancy rate is the lowest it has been since September 2015, while for Inner City the February mark is the lowest its vacancy rate has been since at least March 2015.
While Outer Sydney also saw a fall in February, the fact that its vacancy rate remains above 2% means its rental market is still softer than it was for much of 2015.
In the Hunter region vacancy rates slid 0.3% at 2.7% with Newcastle
down 0.1% to 2.6%, while in the Illawarra vacancy rates slipped 0.8% to 1.2% over the month.
In the Northern Rivers vacancies rose 0.7% to 1.4%, while in Albury
rose 1.0% to 3.7%.
The Central Coast slipped 0.7% to 2.1%, the Mid North Coast saw vacancies drop 0.4% to 0.4% and Coffs Harbour fell 0.1% to 2.3%.
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out