Daily Bulletin

Men's Weekly

.



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 per cent, down 0.1 per cent.

“Middle Sydney saw a decline of 0.3 per cent at 1.6 per cent,” Mr Hunter said.

“Inner Sydney remained steady at 1.9 per cent, and Outer Sydney was down 0.2 per cent at 1.7 per cent.”

In the Hunter region, vacancy rates rose 0.3 per cent to 2.7, led by a rise of 0.6 per cent to 3.0 per cent in Newcastle.

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

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

Suburbs included in ‘inner’, ‘middle’ and ‘outer’ Sydney are those falling within the Sydney Statistical Division as per the Australian Standard Geographic Classification of the Australian Bureau of Statistics.

‘Inner’ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.

‘Middle’ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.

‘Outer’ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.

In Melbourne, prominent property marketer Jeff Grochowski, from Accrue Real Estate, said today,

"Melbourne's population continues to grow as immigration boosts numbers along with those who are looking for employment opportunities in the CBD"

"Interestingly, vacancy rates for rental properties are lower for investors who purchase property valued at less than the median house price. That is because there are more people looking for affordable accommodation than those looking to rent luxury homes. There is a lesson there for investors."

Business News

What Designers Really Think About Your Current Marketing Collateral

Key Takeaways: Designers notice structure, typography, and colour choices before the content itself Consistency across all collateral strengthens brand recognition and builds trust Overly bu...

Daily Bulletin - avatar Daily Bulletin

How to Choose the Right Air Conditioner for Your Home or Business

In Australia’s climate, where summer heat can be intense and winter chills are felt in many regions, air conditioning has become more than just a luxury; it’s an essential part of comfortable living. ...

Daily Bulletin - avatar Daily Bulletin

Why Heavy Duty Moving Dollies Are Essential for Safe Transport in Australia

Moving heavy or bulky items can be challenging, especially when it involves transporting goods across warehouses, offices, or even during residential relocations. In Australia, where industries like c...

Daily Bulletin - avatar Daily Bulletin

LayBy Deals