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Vacancy rates drop in parts of NSW

Vacancy rates drop in parts of NSW

by Staff reporter | February 19, 2020 | 1 minute read

The vacancy rate across most parts of NSW is getting lower, according to new research released by the REINSW.

Vacancy rates drop in parts of NSW
February 19, 2020

The latest figures from the REINSW revealed a significant drop in the vacancy rate in Newcastle, down by half of a percentage point to 2 per cent in January.

Vacancies are also harder to come across in Wollongong, down by 0.3 of a percentage point to 2.9 per cent.

A slight decrease was also seen in Sydney, down by 0.1 of a percentage point to 3.3 per cent in January.

The inner ring of the city dropped to 3.1 per cent, while the outer ring fell by 0.1 of a percentage point to 3.3 per cent. But the middle ring bucked the trend, with the vacancy rate increasing by 0.2 of a percentage point to 3.6 per cent, the first increase since October last year.

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“In January, agents have seen a marked interest in areas such as North Sydney, with more tenant interest reported than in the previous three months,” REINSW CEO Tim McKibbin said.

In other parts of the state, the vacancy rates increased. Coffs Harbour had the most significant increase, up by 0.8 of a percentage point to 3.3 per cent.

Albury also saw an increase of 0.7 of a percentage point to 1.8 per cent for January.

About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]com.au

Vacancy rates drop in parts of NSW
Vacancy rates drop in parts of NSW
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