NSW Excerpt from the 2020 September Market report

23 Sep 2020

It appears, however, that this uptick is now being driven by outer suburbs as the conditions in the inner ring start to tighten.

Vacancies in Sydney increased for the fifth consecutive month to 5%, according to the latest figures from the Real Estate Institute of New South Wales (REINSW). The spike in vacancies came from the outer-city suburbs.

The vacancy rate had been steadily trending downward since March in the outer-city region, as inner-city tenants let go properties with higher weekly rents for more affordable options. Vacancies in the outer-city region, however, unexpectedly jumped from 2.6% to 4.3% in July.

Middle-ring suburbs also recorded an increase in vacancy rate, up from 5.2% to 5.4%.

On the other hand, the rental market conditions in the inner-city ring started to tighten, as the exodus of people from the region has eased during the month. In fact, the region's vacancy rate dropped from 5.8% to 5.3%.

Most regions in New South Wales also reported decreases in vacancies. Only Albury and the Murrumbidgee region bucked the trend and recorded higher vacancy rates in the month.

Area

Property Type

State

Median Price

Quarterly Growth

12 month Growth

Weekly Median Advertised Rent

Gross Rental Yield

Country

Houses

NSW

$480,000

1.0%

4.0%

$400

4.3%

Country

Units

NSW

$410,000

0.0%

2.4%

$350

4.3%

Metro

Houses

NSW

$960,000

1.6%

2.2%

$520

2.9%

Metro

Units

NSW

$730,000

1.0%

1.0%

$500

3.7%

Source: CoreLogic, August 2020

Top Suburbs : ropes crossing , artarmon , darlington , geelong west , freshwater

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