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Low Vacancy Rates for Sydney

By Louise Morrin

Sydney's vacancy rate is remarkably low, which is good news for landlords of real estate in St George.

The Real Estate Institute of New South Wales (REINSW) looked at the capital's rental market in its February 2014 Vacancy Rate Survey.

It found the number of dwellings available for rent in inner-suburban Sydney dropped to 1.5 per cent, marking a 0.3 per cent decrease.

The results were released on March 10. 

For the inner suburbs alone, vacancy rates were incredibly low, which is a favourable outcome for investors looking to secure tenants.

REINSW President Malcolm Gunning dubbed such decreases "dramatic".

Vacancy rates across Sydney as a whole were still low, with a figure of 1.7 per cent. 

This shows a 0.2 per cent decrease. 

“"There is not enough stock available and this combined with the future threat of interest rate increases will see rises in rental prices," noted REINSW in its March 10 statement.

Such an announcement will be welcomed by landlords seeking to fill their rental properties with tenants.

However, it's important not to be complacent once you've secured the right tenants for your real estate in Carlton. Obtaining expert property management services can ensure you achieve regular rental payments and the property remains in a tidy condition. 

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