GROWING THE SOUTH-WEST | Rental-vacancy rate is on the up

NEW APARTMENT BLOCKS: Such as The Macquarie, here at Liverpool.
NEW APARTMENT BLOCKS: Such as The Macquarie, here at Liverpool.

REINSW has found a 0.5 per cent increase in rental vacancies across Sydney. The latest report is based on survey responses covering 132,493 residential rental properties.

Overall, Sydney experienced a 3.7 per cent vacancy rate in January, compared with 3.2 per cent in December. Inner Sydney and Outer Sydney saw rises from December, Middle Sydney saw a 0.9 per cent drop from the previous month, down to 4.2 per cent.

Feedback from real estate agencies in Sydney’s middle ring – such as Parramatta, Auburn, Bankstown – is that higher vacancy rates are due to new apartment developments, leading to a market surplus. Landlords are finding it hard to reduce rents.

LEANNE PILKINGTON

President, REINSW

This story Rental-vacancy rate is on the up first appeared on Liverpool City Champion.

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