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Sydney rents

Discussion in 'Real Estate' started by Jacque, 14th May, 2007.

  1. Jacque

    Jacque Team InvestEd

    16th Jun, 2005
    Latest comments from REINSW:

    Rentals still tight
    The April vacancy rate survey results show that while the situation may have eased slightly, the rental market remains tight.

    During April, the vacancy rate for Sydney rose slightly to 1.4% - up from the record low of only 1.2% in March. A figure below 2% indicates that supply is barely meeting demand.

    Vacancy rates is other areas of NSW also improved. In Wollongong, vacancies increased to 2.9% (from 2.1%), while in Albury, vacancies rose to to 2.6% (from 2.4%).

    "Although there is some improvement, it offers very little relief," said REINSW President, Cristine Castle. "We know that people do want to invest in real estate, but a lot more needs to be done to encourage investors back into the market and take the pressure off supply."