Invest
NSW rental stock continues decline as Sydneysiders go west
The continuation of Sydneysiders leaving the big smoke for other parts of NSW has once again firmed up rental stock in certain areas, new research has found.

NSW rental stock continues decline as Sydneysiders go west
The continuation of Sydneysiders leaving the big smoke for other parts of NSW has once again firmed up rental stock in certain areas, new research has found.

The REINSW Vacancy Rate Survey results show that for the month of February 2021, vacancy rates across much of the state continued to remain tight as more look to take advantage of homes outside the Sydney market.
Rates in Albury dropped to 0.7 per cent, from 0.8 per cent in January, as did Central West at 0.8 per cent in February, from 0.9 in January. The Northern Rivers area also saw a drop to 0.6 per cent, from 1.4 per cent in January,
The Murrumbidgee and New England areas saw the biggest drops – to 0.9 per cent in February from 1.5 per cent in January, and 2.0 per cent in February from 2.7 per cent in January, respectively.
“Rates in the Albury, Central West, Murrumbidgee, New England, Northern Rivers and South East areas all dropped in February,” REINSW CEO Tim McKibbin said.
“Feedback from our members in these areas indicates that stock is extremely tight, as tenants continue to exit the Sydney residential rental market to secure a property that suits both their budget and desired lifestyle.”
On the opposite side of the scale, vacancy rates in the Central Coast, Coffs Harbour and Riverina areas remained stable across the month of February. Meanwhile, the Mid North Coast, Orana and South Coast areas each experienced a slight uptick in the availability of rental accommodation.
When it comes to the state’s capital, vacancies for Sydney now sit at 3.1 per cent overall.
“Sydney’s Inner Ring dropped to 3.7 per cent, a decrease of 1.1 per cent for the month,” Mr McKibbin said.
“Similarly, the Outer Ring dropped by 0.6 per cent to 1.9 per cent.
“Bucking the trend, the Middle Ring remained relatively stable, experiencing only a slight 0.1 per cent rise to 4.3 per cent.
“Some of this downward movement may be due to families making decisions to move ahead of the start of the new school year and university students converging on the city for another year of study.
“However, if the last 12 months have taught us anything, it’s that the residential rental market remains unpredictable, moving up and down month after month.”

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more

Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more

Property
Perth house prices continue climbing to a record high
While growth may have come to an end in Sydney and Melbourne, Perth house prices are still on the rise. ...Read more

Property
Stamp duty significantly slowing path to purchase for FHB
Saving for a home takes years for the typical first-time buyer. In Australia’s largest cities, as much as two years are spent simply building up the funds to pay the cost of stamp duty, according to...Read more

Wrapping up an eventful 2021
Listen now

What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now

Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now

Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more

Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more

Property
Perth house prices continue climbing to a record high
While growth may have come to an end in Sydney and Melbourne, Perth house prices are still on the rise. ...Read more

Property
Stamp duty significantly slowing path to purchase for FHB
Saving for a home takes years for the typical first-time buyer. In Australia’s largest cities, as much as two years are spent simply building up the funds to pay the cost of stamp duty, according to...Read more