Sydney's vacancy rate up in the air

By |
Disagreement surrounds Sydney’s residential vacancy rate, with two organisations releasing differing figures on how many dwellings are looking for tenants.

According to SQM Research, Sydney’s vacancy rate saw a small increase over November, from 1.6% to 1.7%, with total vacancies rising from 9,692 to 10,045.

Head of SQM research Louis Christopher said the increase his firm had documented was in line with seasonal trends.

“Vacancies appear to be following the common seasonal trends expected at this time of year, where rental accommodation tends to become more available for a variety of factors,” Christopher said.

“The most predominant of these factors is the departure of University students from their regular rental accommodation over the long four month summer break,” he said.

But the Real Estate Institute of New South Wales (REINSW) believes Sydney’s rental market tightened over the month.

The November REINSW Vacancy Rate Survey claimed Sydney’s vacancy rate decreased 0.2% to 1.7% over November

According to the REINSW, vacancies in inner Sydney fell 0.3% to 1.8%, middle Sydney slipped 0.2% to 1.7% and outer Sydney rose 0.1% to 1.7%.

“The popularity of inner Sydney was recognised during the month of November and the flood of new apartments reaching completion declined to see vacancy rates hit their lowest level since May,” REINSW President John Cunningham said.  

Elsewhere, the Hunter region slipped 0.2% to 2.5% accrodring to the REINSW, with Newcastle down 0.1% at 2.1%.

In the Illawarra the overall vacancy rate fell 0.9% to 1.0% with Wollongong slipping from 2.6% to 1.1%.

In the regional areas Albury fell 0.4% at 2.4%, Orana fell 0.2 % to 2.1%, while Central Coast rose 0.3% to 2.2% and Northern Rivers was up 0.3% at 1.5%.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : mayfield , stafford hts , wentworthville , mt colah , marrickville

go back

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.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here