Sydney residential vacancy rates tighten: REINSW

Residential vacancy rates have tightened across the Sydney market, led by middle Sydney, according to data released by the Real Estate Institute of New South Wales. 

REINSW deputy president Brett Hunter said the August 2016 REINSW Vacancy Rate Survey saw Sydney with an overall vacancy rate of 1.8 percent, down 0.1 percent. 

Middle Sydney, which includes suburbs such as Manly, Parramatta, Strathfield and Willoughby, declined 0.3 percent to 1.6 percent. 

Inner Sydney, which includes Botany Bay, Lane Cove, Mosman, Sydney and Waverley among others, was steady at 1.9 percent, while outer Sydney was down 0.2 percent to 1.7 percent, he said.

In the Hunter region, vacancy rates rose 0.3 percent to 2.7, led by a 0.6 percent climb to 3 percent in Newcastle. 

In the Illawarra region, vacancy rates fell 0.3 percent to 1.6 percent, with Wollongong down 0.5 percent at 1.1 percent. 

Across regional areas, New England fell 0.8 percent to 3.9 percent, Murrumbidgee dropped 0.1 percent to 1.5 percent and Albury was down 0.6 percent at 3.1 percent.