Rents in Sydney poised to jump

By |

Rents in Sydney could shoot up as a result of the substantial drop in rental vacancies, the latest report by the Real Estate Institute of New South Wales (REINSW) shows.

Sydney vacancies dropped to 2.9%, their lowest level this year, signalling a shift in the city’s rental market.

"We haven't seen Sydney's vacancy rates this low since October last year. With a reduction in the available rental supply, we could see upward pressure on rents," REINSW CEO Tim McKibbin said.

Hunter also remained popular, with only 1% of rental homes unoccupied, clocking an all-time low.

Illawarra vacancies also decreased, down from 2.3% to 2.2%.

"We do typically see vacancies decrease in the warmer months, so we can expect rates to remain low across New South Wales into the new year," McKibbin said.

In other regional New South Wales areas, more than 50% of the suburbs experienced a drop in vacancies.

The table below shows the vacancy rates in the three major NSW regions for the past five months.

VACANCY RATES – NEW SOUTH WALES MAJOR AREAS

SYDNEY

 

September

August

July

June

May

Inner

3.1%

3.4%

3.0%

3.4%

3.1%

Middle

3.0%

3.9%

4.1%

3.4%

3.3%

Outer

2.7%

3.5%

3.4%

3.5%

3.5%

Total

2.9%

3.6%

3.5%

3.4%

3.4%

HUNTER

 

September

August

July

June

May

Newcastle

1.2%

1.5%

1.6%

1.8%

1.7%

Other

1.0%

1.4%

1.8%

1.6%

1.9%

Total

1.0%

1.4%

1.7%

1.7%

1.8%

ILLAWARRA

 

September

August

July

June

May

Wollongong

2.8%

2.4%

1.6%

2.1%

3.3%

Other

1.5%

2.3%

3.3%

2.6%

2.9%

Total

2.2%

2.3%

2.2%

2.3%

3.1%

Source: REINSW

Top Suburbs : campsie , rooty hill , cardiff south , sth toowoomba , ferntree gully

SHARE

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 an appointment is free.

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