Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Low Sydney vacancy rates good for investors

Staff Reporter 3 minute read

Sydney’s rental property market is in a stalemate, figures from the Real Estate Institute of NSW (REINSW) have found.

According to the REINSW, the number of vacant rental properties across the city and in Newcastle remained stable at 1.3 per cent in September despite incentives designed to encourage people to buy homes.

The number of vacant rental properties in Sydney's outer suburbs rose by 0. 1 per cent to 1 per cent, while vacancies in the inner suburbs fell slightly to 1.4 per cent.

In the Hunter Valley rental vacancies fell 0.1 per cent to 1.5 per cent.

Advertisement
Advertisement

In the Illawarra, overall vacancies rose 0.4 per cent to 1.7 per cent while in Wollongong, the percentage of available properties increased 0.3 per cent to 1.6 per cent.

"These results are a double-edged sword; great news for landlords but grim news for tenants," REINSW president Steve Martin said.

"The results for Sydney and Newcastle are concerning and show that despite a low interest rate environment and additional first home buyer and other buyer incentives, the rental market remains extremely fragile."

According to Mr Martin, the current vacancy rates are unlikely to change in the immediate future.

Low Sydney vacancy rates good for investors
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
handshake news MyState names banking general manager

A former broker head has returned to MyState Bank, to tackle turn...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...