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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Fri 24 May '24 with Rich Harvey Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24 with Rich Harvey Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24 with Rich Harvey How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24 with Rich Harvey Why Invest in Melbourne?
 
 
Mon 26 Feb '24 with Rich Harvey Sydney’s Inner West – Hotspots and Outlook for 2024
 
 
Mon 12 Feb '24 with Rich Harvey Decoding Sydney’s North Shore Market – Outlook and Opportunities.
 

 

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Vacancy rates reaching 'crisis' levels

April 24, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

The same conditions making it hard to be a renter in the New South Wales capital are providing great returns for those who buy investment property in Sydney.

The Real Estate Institute of New South Wales (REINSW) recently stated that vacancy rates across Sydney are "verging on crisis levels", with the organisation's March 2014 Vacancy Rate Survey showing that the number of properties for rent across the city fell 0.3 per cent, reaching 1.4 per cent.

"We haven't seen vacancy rates right across Sydney this low since November 2011," REINSW President Malcolm Gunning said.

"Sydney is going backwards in regard to properties available for rent. Something must be done to ensure that there is a greater level of choice for those seeking to secure a rental property in Australia's biggest city."

The inner Sydney vacancy rate fell 0.2 per cent, reaching 1.3 per cent - the lowest level across the metropolitan area. This includes areas such as Waverton, Neutral Bay, Bellevue Hill, Double Bay and many others.

Meanwhile, the middle suburbs have seen a vacancy rate decline of 0.4 per cent and the outer suburbs have experienced a fall of 0.1 per cent. This left both regions with vacancy rates of 1.6 per cent and 1.5 per cent, respectively.

"We look with interest to the direction new Premier Mike Baird will take in regard to property," Mr Gunning continued, highlighting the need for changes to the current planning system and a lack of incentives for first home buyers.

However, such vacancy rates represent a golden opportunity for investors in the Sydney region. High demand makes obtaining a cash flow positive property much easier, as there are more people competing for limited housing and willing to pay higher prices to find it.

The Propertybuyer
Podcast

 
Fri 24 May '24
with Rich Harvey
Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24
with Rich Harvey
Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24
with Rich Harvey
How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24
with Rich Harvey
Why Invest in Melbourne?
 
 
Mon 26 Feb '24
with Rich Harvey
Sydney’s Inner West – Hotspots and Outlook for 2024
 
 
Mon 12 Feb '24
with Rich Harvey
Decoding Sydney’s North Shore Market – Outlook and Opportunities.
 

 

Listen to many more
podcasts on our
Podcasts page.