Sydney rental vacancies drop to lowest rate this year

By |

Rental vacancies in Sydney have dropped to their lowest rate this year, according to the Real Estate Institute of New South Wales (REINSW)

The REINSW’s residential vacancy rate report for September revealed that rental vacancies in Sydney are down a substantial 0.7% from August. Middle Sydney saw the biggest drop of 0.9% compared to August, followed by Outer Sydney (down 0.8%) and Inner Sydney (down 0.3%).

According to the report, total vacancies across Sydney now sit at just 2.9% — a significant shift for the rental market, with vacancies previously hovering above 3% since November 2018. Since August, vacancies in Outer Sydney have dropped from 3.5% down to 2.7%, Middle Sydney is down to 3% from 3.9%, while vacancies in Inner Sydney are down from 3.4% to 3.1%.

“We haven’t seen Sydney’s vacancy rates this low since October last year,” said Tim McKibbin, chief executive officer of REINSW. “With a reduction in the available rental supply, we could see upward pressure on rents.”

However, McKibbin said that lower vacancies are to be expected at the start of the spring season.

“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,” he said.

Top Suburbs : gladesville , windale , freshwater , marrickville , lalor park

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