Vacancy rates across Sydney continue to rise as seasonal factors influence the number of people seeking rental accommodation, according to the Real Estate Institute of New South Wales.
REINSW president John Cunningham said that the July 2017 REINSW Vacancy Rate Survey saw vacancy rates rise across the board in Sydney.
“Seasonal factors are playing a role in the increase in vacancy rates, as well as reduction in activity that we often see at the end and beginning of the financial year,” the president said.
“We anticipate that this trend will continue during the remainder of winter.”
The survey found that the Sydney metropolitan area rose 0.1 percentage point to 1.9 per cent. Inner Sydney rose 0.1 per cent to 2.3 per cent, middle Sydney increased 0.1 per cent to 1.5 per cent and outer Sydney rose 0.2 per cent to 1.9 per cent.
Across regional areas, New England rose 1.1 per cent point to 4.2 per cent, the central west rose 0.6 per cent to 3.5 per cent, and the central coast added 0.5 per cent to 3.2 per cent.
The south coast fell 0.5 per cent to 1.6 per cent and the Northern Rivers fell 0.9 per cent to 0.7 per cent.