Sydney’s vacancy rates continue to plummet

The REINSW’s latest Vacancy Rates survey shows a 1.4% vacancy rate for Sydney in February, two percentage points lower than in January and one percentage point lower than December’s figures which, at 1.5%, were a historical low.

“The situation continues to deteriorate which proves it is a myth that there is no problem,” said REINSW President Cristine Castle. “What are the politicians doing to reassure people that they have plans to alleviate this?”

REINSW provides the only comprehensive data on rental vacancies across NSW.

Sydney’s February 2007 vacancy rate for February of 1.4% is the lowest level seen since the REINSW began collecting data.

Vacancy rates in urban centres close to Sydney have also continued to decline with Newcastle recording 1.8%, down from 2.7% in January and Wollongong recording 2.6%, down from 2.9% in January.

However, the situation has improved on the Central Coast where vacancies rose from 2.2% in January to 2.6% and in Albury where they rose to 2.2% from 1.8%.

Residential vacancy rates in NSW:

  February
2007
January
2007
December
2006
November
2006
SYDNEY 1.4% 1.6% 1.5% 1.6%
Inner (0-10km from CBD)  1.3 1.6 1.4 1.3
Middle (10-25km) 1.3 1.6 1.6 1.9
Outer (>25km) 1.5 1.6 1.6 1.6
         
HUNTER 1.5 2.2 2.2 2.4
Newcastle 1.8 2.7 2.4 2.6
Other 1.2 1.6 1.9 2.2
         
ILLAWARRA 2.8 3.1 3.5 3.7
Wollongong 2.6 2.9 3.7 3.6
Other 3.6 3.4 3.0 4.0
         
Central Coast 2.6 2.2 3.9 2.9
         
Albury 2.2 1.8 2.3 1.8
Central West 6.1 3.7 3.5 4.8
Coffs Harbour 3.6 3.3 3.7 3.2
Mid-North Coast 2.8 3.3 3.6 4.4
New England 3.0 3.0 3.9 3.4
Northern Rivers 2.0 2.1 2.7 2.1
Orana 2.9 1.7 2.2 1.8
Riverina 3.6 4.4 4.7 4.3
South Coast 3.0 3.4 3.3 4.3
South Eastern 1.8 1.6 1.1 1.2

Share or Recommend article

Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!