Vacancy rates steady in August

The vacancy rate for Sydney residential property remained steady at 4.4 per cent during August, according to the Real Estate Institute of NSW. The data also show that inner-city investment properties are still in high demand, with vacancy rates declining for the second consecutive month, to 4.0 per cent – from 4.6 per cent in July and 5.1 per cent in June.

However, in middle Sydney the vacancy rate for residential investment properties rose in August, to 4.6 per cent from 4.3 per cent in July. In outer Sydney the vacancy rate was steady at 4.1 per cent, unchanged from July. In regional areas residential vacancies are still quite low: only a few areas recorded rates in excess of two per cent. The REINSW survey covered around 67,000 rental properties across New South Wales.