Vacancy rates drop in parts of NSW
The vacancy rate across most parts of NSW is getting lower, according to new research released by the REINSW.
The latest figures from the REINSW revealed a significant drop in the vacancy rate in Newcastle, down by half of a percentage point to 2 per cent in January.
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Vacancies are also harder to come across in Wollongong, down by 0.3 of a percentage point to 2.9 per cent.
A slight decrease was also seen in Sydney, down by 0.1 of a percentage point to 3.3 per cent in January.
The inner ring of the city dropped to 3.1 per cent, while the outer ring fell by 0.1 of a percentage point to 3.3 per cent. But the middle ring bucked the trend, with the vacancy rate increasing by 0.2 of a percentage point to 3.6 per cent, the first increase since October last year.
“In January, agents have seen a marked interest in areas such as North Sydney, with more tenant interest reported than in the previous three months,” REINSW CEO Tim McKibbin said.
In other parts of the state, the vacancy rates increased. Coffs Harbour had the most significant increase, up by 0.8 of a percentage point to 3.3 per cent.
Albury also saw an increase of 0.7 of a percentage point to 1.8 per cent for January.
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