Finding rental property in Carlton shouldn't be too difficult at the moment, as the latest figures point to more stock entering the market. According to the Real Estate Institute of New South Wales (REINSW), Sydney's residential stock vacancies increased from 0.2 per cent in April and May to 2.1 per cent in June.
Inner Sydney was where the biggest fall was registered, as the number of available properties rose from 1.7 per cent to 2.6 per cent. The June 2015 REINSW Vacancy Rate Survey showed that it's been a while since vacancies were so high, as they haven't reached this level since September 2005.
REINSW president Malcolm Gunning said: "The increase is due to a large number of apartments that have been released into the market, which are not moving as quickly as expected. This is good news for tenants looking to live in the inner city."
This wasn't the case in middle and outer Sydney, however, as vacancies slipped from 0.3 per cent to 1.9 per cent and 0.2 per cent to 1.7 per cent, respectively.
This follows results from SQM Research, which suggested that the number of available rental properties is not quite so high. Throughout June, 1.8 per cent of homes in Sydney were without tenants, a figure that remained unchanged from the previous month.
Compared to a year earlier, vacancies were down 0.1 per cent, painting quite a different picture of the New South Wales capitals' property market.
Navigating the Sydney property market can be tough for even the most experienced investor, which is why the team at Ray White Carlton is here to lend our expertise. We can offer help finding your investment, as well as services such as property management.
If you're new to the market and need a helping hand, be sure to give us a call.