Sydney vacancy rates see little change

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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.

Top Suburbs : eagle vale , hebersham , mortdale , the basin , mt gravatt

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