In Sydney, according to the latest REINSW Vacancy Rate report, the rental market remains steady with only minor fluctuations depending on area. 

However, the Illawarra has again experienced major fluctuations with Wollongong seeing a near one per cent rise in vacancy rates compared to July.

In the north, in the Hunter region, the lowest vacancy rates of the year have been recorded. 

At a glance:
•    Sydney vacancy rates for Inner (up 0.4% to 3.4%), Middle (down 0.2% to 3.9%) and Outer (up 0.1% to 3.5%) have remained steady
•    Wollongong has seen a near one per cent rise in vacancy rates
•    50 per cent of the other regions recorded a rise in vacancies in August 

REINSW CEO, Tim McKibbin said it is positive to see Sydney’s rental market stabilising following a period of volatility. 

“The early indicators suggest as we move into the warmer months, we can expect vacancy rates to fall. 

“Whether this will translate into the Illawarra or drive even more competition in the Hunter market will be interesting to see.” Said Mr McKibbin. 

50 per cent of the other regions recorded a rise in vacancies in August, particularly the South Eastern region which jumped 0.7 per cent to 4.1 per cent and the Mid-North Coast which is up 0.5 per cent to 2.6 per cent. 

13-old-pioneer-crescent-berry-d12fbeb8-c5da-4dd9-b192-ed6d128c36a9.jpg

13 Old Pioneer Crescent, Berry. As seen on Luxury List.

Orana experienced a decline of one per cent with vacancy rates now sitting at a low of 1.5 per cent. 

While Coffs Harbour saw the biggest decline of 1.9 per cent, from 3.2 per cent to 1.3 per cent. 

Residential vacancy rate percentage

The REINSW Residential Vacancy Rate Report is based on the proportion of unlet residential dwellings to the total rent roll of REINSW member agents on the 15th of each month. 

Carried out monthly, the research – a survey of REINSW member agents conducted by Survey Matters – collects the total properties on agency rent rolls, the number of properties that were vacant on the 15th of the month, and the postcode in which a majority of agents’ rental properties are located. 

The suburb-level rates reported by agents are weighted based on ABS Census 2016 Dwelling Characteristics. The August report is based on survey responses covering 118,424 residential rental properties. 

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