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Sydney rental vacancy rates on the rise

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17 June 2013 The Sydney residential rental market has seen an increase in availability, according to data released by the Real Estate Institute of New South Wales.

The May 2013 REINSW Vacancy Rate Survey saw the Sydney metropolitan area at 2.1 per cent, a rise of 0.4 per cent in availability from April.

•       Inner suburbs (0-10km from CBD) up 0.3 per cent to 1.9 per cent
•       Middle suburbs (10-25km from CBD) remained at 1.9 per cent
•       Outer suburbs (more than 25km from CBD) up 0.6 per cent at 2.3 per cent

“The Outer suburbs led an increase in Sydney residential vacancies,” REINSW President Christian Payne said.

“After three months in a row of residential vacancy declines we are back to levels seen in January. Despite the increase vacancy rates are still dire.”

Looking across the state, the Illawarra was up 0.1 per cent at 1.9 per cent, led by a rise of 0.3 per cent in Wollongong at 2.2 per cent.

The Hunter region saw an increase of 0.3 per cent to 2.9 per cent, with an increase of 0.2 per cent in Newcastle to 2.1 per cent.

The Central Coast rebounded 0.7 per cent to 2.6 per cent and Northern Rivers and New England both jumped 0.3 per cent to 2.4 per cent and 3.1 per cent, respectively.

Despite a rise of 0.2 per cent, Orana, which includes the major centres of Dubbo, Cobar and Mudgee, continued to be the hardest place to find rental accommodation with a vacancy rate of 1.6 per cent.

Coffs Harbour was again the easiest place to find rental accommodation despite the second month in a row of decline at 4.0 per cent, down 0.1 per cent. 

Bucking the trend was Albury with a fall of 0.4 per cent to 1.8 per cent and the Riverina which fell 0.1 per cent to 3.3 per cent.

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