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New REINSW data suggests that as the temperature goes up, vacancy rates in Sydney are going down, as spring begins to give way to summer.
The September 2018 edition of the REINSW Vacancy Rate Survey showed that metropolitan Sydney vacancy rates were down by 0.2 of a percentage point over the month to 2.8 per cent.
Leanne Pilkington, president of the REINSW, said that Inner Sydney vacancy rates were down by 0.5 of a percentage point, the lowest level since May.
Outer Sydney also declined by 0.2 of a percentage point to 2.9 per cent, while Middle Sydney saw no movement and held steady at 3.1 per cent.
Looking across regional New South Wales, the major areas saw vacancy rates creeping upward.
The Hunter region saw vacancy rates rise by 0.1 of a percentage point; this includes the large regional city of Newcastle, which also rose by 0.8 of a percentage point.
Other regional areas experiencing rises include Albury by 0.6 of a percentage point to 2.2 per cent, Murrumbidgee by 0.6 of a percentage point to 1.6 per cent, Orana by 0.2 of a percentage point to 2 per cent and Northern Rivers by 0.3 of a percentage point to 1.3 per cent.
Across regional areas, New England remained steady at 2.2 per cent, Northern Rivers rose by 0.3 of a percentage point to 1.3 per cent and Orana rose by 0.2 of a percentage point to 2.0 per cent.
Defying the regional trend was Illawarra with a decline of 0.2 of a percentage point to 1.8 per cent; the major area of Wollongong rose by 0.1 of a percentage point to 2.1 per cent.
Meanwhile, regional areas that are seeing a drop in their vacancy rate include the Central Coast, which fell by 0.7 of a percentage point to 1.8; the central west region by 0.2 of a percentage point to 2 per cent; Coffs Harbour by 2.4 per cent to 1.4 per cent; the mid-north coast region by 0.2 of a percentage point to 2.1 per cent; Riverina by 1.5 per cent to 1.9 per cent; the south coast region by 0.8 of a percentage point; and the south-eastern region by 0.1 of a percentage point to 0.5 of a percentage point.
New England saw no movement, holding steady at 2.2 per cent.
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