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.