The availability of rental housing in Sydney has increased despite mixed results in the month of November, reflecting a decline in demand from the Sydneysiders.
According to the survey of job vacancy rates conducted by the New South Wales Real Estate Institute (REINSW), job vacancy rates in the Sydney Metropolitan Area increased by 0.1 percentage point to reach 3%.
REINSW President Leanne Pilkington said vacancy rates in Inner Sydney were moving in the opposite direction, down 0.3 percentage point to 2.5%.
In contrast, central and outer Sydney gained 0.3 and 0.2 percentage points, rising to 3.5% and 3%, respectively.
In the Hunter, the vacancy rate remained stable at 1.6%, the Newcastle vacancy rate remaining unchanged at 1.8%. The Illawarra, meanwhile, rose by one percentage point, Wollongong increasing by 0.5 point to 2.7%.
Looking at regional area data, New England lost 0.5 percentage point to 2% and the central coast lost 0.5 percentage point to 1.9.
Albury and Mid-North Coast increased by 0.4 and 0.6 percentage points, respectively, for a vacancy rate of 2.6%, which is the highest record recorded in the past year. State after Sydney.
The REINSW survey on vacancy rates showed that rental availabilities in Sydney had also increased in October, with the vacancy rate having increased by 0.1 percentage point over the previous month to 2, 9%.
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