Viw Magazine


  • Written by Helen Hull


Residential vacancy rates have tightened across the Sydney market as new accommodation is snapped up right across the city, according to data released by the Real Estate Institute of New South Wales.

REINSW President John Cunningham said the October 2016 REINSW Vacancy Rate Survey was at 1.7 per cent, down 0.2 per cent for Sydney.  

“We have seen an increase in interest in Middle Sydney and the take up of newly completed apartments has seen vacancies fall 0.6 per cent at 1.5 per cent,” Mr Cunningham said.

“This is the lowest vacancy rate for Middle Sydney since August 2015. Meanwhile Outer Sydney remained steady at 1.8 per cent and Inner Sydney bucked the trend with a rise of 0.1 per cent at 1.9 per cent.”

In the Hunter, Newcastle saw an increase of 0.5 per cent at 2.4 per cent, despite this the overall vacancy rates across the region remained unchanged at 2.2 per cent.

In the Illawarra, vacancy rates made a 0.3 per cent correction to 1.6 per cent overall as well as for Wollongong, which also rose 0.3 per cent to 1.6 per cent.

Across regional areas, Albury leapt 1.0 per cent at 3.9 per cent, the Central Coast fell 0.8 per cent at 1.9 per cent and the Northern Rivers was down 0.2 per cent at 0.8 per cent, it’s lowest level since January 2016.

* Suburbs included in ‘inner’, ‘middle’ and ‘outer’ Sydney are those falling within the Sydney Statistical Division as per the Australian Standard Geographic Classification of the Australian Bureau of Statistics.

‘Inner’ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.

‘Middle’ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.

‘Outer’ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.

The Viw Magazine

Sick and Tired of Your Dead End Job? Try Teaching!

Tired of the same old grind at the office? Want an opportunity to impact lives both in your community and around the world? Do you love to travel and have new experiences? Teaching English is the perf...

News Company - avatar News Company

LifeStyle

Working from home; Should you adopt a dog?

Unless you’ve been lucky enough to win a US Powerball jackpot, most of us need to work. With a ...

How to stay productive while working at home

Advancing technology and increased connections have meant that many people can now work from home ...

A Woodworking Projects for Beginners: The Humble Chopping Board

There’s no doubt that building something from scratch offers a suite of rewards – whether you...

5 Ways to Pick the Perfect Wedding Ring

Wedding bells are ringing, and you are starting to develop butterfly effects inside your tummy. ...

CBD



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion