Vacancy rates across Sydney rose for the second month in a row despite declines in Inner and Outer Sydney, according to the Real Estate Institute of New South Wales.
REINSW Deputy President Leanne Pilkington said the August 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan area rise 0.1 percentage points from 2.0 per cent.
“It was a mixed result for Sydney, despite the overall rise, availability in Inner Sydney dropped 0.4 percentage points from 1.9 per cent, while Outer Sydney fell 0.1 percentage points from 0.1 per cent,” Ms. Pilkington said.
“Middle Sydney bucked the trend with an increase of 0.8 percentage points to 2.3 per cent.”
In the Illawarra, vacancy rates slipped 0.2 percentage points to 2.1 per cent with Wollongong steady at 2.2 per cent. The Hunter dropped 0.4 percentage points from 1.9 per cent despite Newcastle remaining steady at 1.6 per cent.
Across regional areas, the highest vacancy rate was in the Riverina, which jumped 0.7 percentage points to 3.3 per cent. Albury remained steady at 3.2 per cent, while the Central West and Coffs Harbour have a vacancy rate of 2.4 per cent with declines of 1.1 percentage points in the Central West and 0.5 percentage points in Coffs Harbour. The South Coast rose 0.1 percentage points from 1.7 per cent and Northern Rivers increase 0.3 percentage points to 1.0 per cent.
Original article here: http://www.apimagazine.com.au/property-investment/sydney-vacancy-rates-edge-higher