Sydney’s rental market is set to remain tight over the coming months according to one of New South Wales’ peak real estate bodies.
According to the latest edition of the Real Estate Institute of NSW (REINSW) Vacancy Rate Survey, Sydney’s vacancy rate remained at steady at 1.7% during April, meaning it has now remained unchanged for three straight months.
According to the REINSW, Inner Sydney remained the tightest market in the city during April with its vacancy rate unchanged at 1.3%, while the city’s other regions saw some movements.
“Middle Sydney was down 0.3% at 1.6%, while Outer Sydney rose 0.1% to 1.9%,” REINSW president John Cunningham said.
“Low vacancy rates highlight the shortage of properties in high demand areas. This trend is expected to continue into the winter months,” Cunningham said.
Outside of Sydney, vacacny the Hunter rose 0.2% to 2.5% despite a fall of 0.8% in Newcastle
“Properties are leasing well and in quick time frames in Newcastle,” Mr Cunningham said.
In the Illawarra, vacancy rates rose 0.4% to 1.7%, led by Wollongong
which was up 0.7% to 1.7%.
In the more regional areas, rental availability in Albury
was down 0.7% to 2.9%, while the Riverina was down 1.2% to 3.1% and New England was steady at 3.6%.
The Central Coast saw its vacancy rate increase 1.0% to 3.0% and vacancies on the South Coast rose 0.3% to 2.5%.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
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 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 and appointment is free.
We value your privacy and treat all your information seriously - you can check out