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

 
Wed 22 Nov '23 with Rich Harvey Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23 with Rich Harvey Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23 with Rich Harvey How Sales Agents Think
 
 
Thu 15 Jun '23 with Rich Harvey Auctions – The Inside Scoop
 
 
Fri 9 Jun '23 with Rich Harvey Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23 with Amanda Jones Melbourne Property Insights
 

 

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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

 
Wed 22 Nov '23
with Rich Harvey
Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23
with Rich Harvey
Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23
with Rich Harvey
How Sales Agents Think
 
 
Thu 15 Jun '23
with Rich Harvey
Auctions – The Inside Scoop
 
 
Fri 9 Jun '23
with Rich Harvey
Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23
with Amanda Jones
Melbourne Property Insights
 

 

Listen to many more
podcasts on our
Podcasts page.