According to the New South Wales Real Estate Institute (REINSW), rental occupancy rates in Sydney have fallen to their lowest level this year
REINSW's vacancy rate report for September indicated that rental housing in Sydney was down 0.7% from August. Central Sydney recorded the largest decline of 0.9% from August, followed by Outer Sydney (down 0.8%) and Inner Sydney (down 0.3%).
According to the report, the total number of vacant positions in Sydney is only 2.9% – a significant change for the rental market, with vacancy rates being above 3% since November 2018. Since August, vacancies at Outer Sydney have gone from 3.5% Middle Sydney has gone from 3.9% to 3%, compared to 3.9% to 3%, while vacancies at Inner Sydney went from 3.4% to 3.1% down.
"We have not seen the vacancy rate in Sydney so low since last October," said Tim McKibbin, President and CEO of REINSW. "With a reduction in rental supply available, we could see upward pressure on rents."
However, McKibbin said that one should expect a drop in vacancies in early spring.
"We generally see a decrease in vacancies during the warmer months, so we can expect rates to stay low in New South Wales until the new year," he said. he declared.
Top suburbs:
revesby hts
,
Menai
,
Berala
,
Greenwood
,
East Victoria Park
Get help for your real estate investment
Do you need help in finding the right loan for your investment?
When you invest in real estate, it is important to make sure that you do not only have the lowest available rate that you can get, but you also have the features of ready adapted to your needs.
Just fill in a few details below and then we will arrange for a local Australian mortgage broker to contact you and sort out the problem What features or what types of loans are suited to your needs? We will even help with the paperwork. In addition, an appointment is free.
We respect your privacy and treat all your information seriously – you can check
our privacy policy here
