Sydney market tightens
The residential vacancy rate in the New South Wales capital has declined, according to new data.
The September 2014 REINSW Vacancy Rate Survey saw the number of properties for rent across Sydney fall 0.1 per cent to 1.7 per cent.
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REINSW president Malcolm Gunning said outer Sydney (suburbs in the Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong LGAs) saw the largest declines, hitting 10-month lows.
According to the REINSW, outer-Sydney vacancies declined 0.2 per cent to 1.4 per cent.
Middle Sydney (suburbs in the Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby LGAs) fell by 0.3 per cent to 1.9 per cent, the survey revealed, and inner Sydney (suburbs in the Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra LGAs) remained steady at 1.8 per cent.
Around the rest of the state, vacancy rates in the Illawarra remained steady at 2.0 per cent, despite a rise of 0.5 per cent to 2.7 per cent in Wollongong.
The Hunter region declined by 0.2 per cent to 3.1 per cent on the back of a 0.8 per cent fall in vacancy rates in Newcastle, which now sits at 1.9 per cent – its lowest level since September 2013.
In regional areas, the mid-north coast was the hardest place to find rental accommodation at 1.4 per cent, down 0.2 per cent.
Albury was down 0.1 per cent at 1.6 per cent, Central Coast fell 0.3 per cent to 1.7 per cent and the Riverina dropped 0.6 per cent to 2.8 per cent. Northern Rivers declined 1.0 per cent to 2.7 per cent.
Bucking the trend was the central west which jumped 0.5 per cent to 4.3 per cent and Orana which added 1.1 per cent to 3.2 per cent.
