Wider Sydney recorded little change in vacancy rates, with Inner and Outer Sydney experiencing minor changes, the Real Estate Institute of New South Wales (REINSW) reported.
The capital city had a 3.5% vacancy rate in July—up 0.1% from June. Vacancy rates in Inner Sydney dropped 0.4% to 3%, while Outer Sydney was down 0.1% to 3.4%.
The vacancy rates in Middle Sydney defied this trend, increasing 0.7% to 4.1%.
Vacancy rates in the Hunter region remained stable at 1.7%, with other areas recording a 0.2% increase to 1.8%. However, Newcastle’s vacancy rate fell 0.2% to 1.6%.
The Illawarra region recorded a drop in vacancy rates, falling 0.1% to 2.2% in July. Vacancy rates in Wollongong also fell, decreasing 0.5% to 1.6%.
More than 50% of other NSW regions experienced growth in vacancy rates, with Coffs Harbour and South Coast recording a 1% rise.
South Eastern had the largest vacancy rate growth at 2.2%.
Several areas recorded a drop in vacancy rates, with rates in Mid-North Coast falling 0.7% to 2.8%.
The year ending July 2019 saw vacancy rates in Sydney increasing 0.7% to 3.5%. Illawarra and Newcastle both recorded a 0.2% decline to 1.7% and 2.2%, respectively.
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