This article is from the Australian Property Journal archive
Vacancy rates across NSW remain at “dire” levels, according to new research, as Sydney saw vacancies tighten in the early running of 2025.
According to the latest REINSW Vacancy Rate Survey, the residential rental vacancy rate for Sydney overall dropped by 0.2% in January to be just 2.0%. This was owed to a sharp fall of 0.8% in the inner suburbs, to 2.0%.
The offset rises in both the middle and outer rings, which respectively rose 0.3% to be 2.1%, and by 0.2% to 1.9%.
“Vacancy rates continue to hover at historically low levels and the number of properties available to rent keeps diminishing,” REINSW CEO Tim McKibbin said.
“REINSW members across New South Wales continue to tell us that the rental market is extremely tough. In some areas, agents have a long list of pre-qualified tenants, but there’s simply not enough stock available to meet demand.”
In February last year vacancies across Sydney were tighter at 1.3%, but renters are still up against it.
“Demand for rental accommodation certainly isn’t slowing. The residential rental market is fluctuating, but three things remain certain. The availability of stock is at an all-time low, weekly rents continue to rise and tenants are faced with ever-increasing living costs,” McKibbin said.
“None of these things are showing signs of getting better – in fact, for many, they’re getting worse.”
Perennially the highest in the country, Sydney rents came in at $730 per week at the end of December, according to REA Group.
The REINSW data showed residential rental vacancies in the Hunter region experienced a slight uptick, up by 0.2% to be 1.5%.
Meanwhile, the Illawarra region dipped back by 0.1% to 1.1%.
Vacancy rates eased slightly across many areas in regional NSW, however the availability of rental accommodation remains at “dire” levels, the REINSW said.
Vacancy rates in the Albury, Central Coast, Coffs Harbour, Mid North Coast, Murrumbidgee, New England, Northern Rivers and South Coast areas all increased over the last month.
