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RESIDENTIAL PROPERTY

Rental vacancies dip slightly

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STRONG demand through the city and inner suburbs tempered a rise residential vacancies across Sydney in November, with a 3.0% rate registered across the metropolitan region.

According to new data from REINSW, inner Sydney vacancies fell by 0.3% to 2.5% over the month, while middle Sydney was up by 0.3 to 3.5% and outer Sydney by 0.2% to 3.0%.

Sydney is now back at the 3.0% mark for the first time since August, which was preceded by a steady increase.

The Hunter was steady in November at 1.6%, with Newcastle remaining at 1.8%, while the Illawarra rose from 1.7% to 2.7% as Wollongong eased out from 2.2% to 2.7%.

Throughout the rest of the state, New England fell by 0.5 pps to 2.0%; the Central Coast likewise to 1.0 pps, while Albury and the mid-north coast were up by 0.4 pps and 0.6 pps respectively to 2.6%.

The Riverina stayed at 2.2%; the South Coast firmed slightly to 1.7%; the Northern Rivers were at 1.3% again, and Murrumbidgee tightened to 0.7%.

Australian Property Journal