Steady: Rental vacancies have held steady across Newcastle and the Hunter, according to the latest data from Real Estate Institute of NSW. Photo: Kidd Imagery.
The March REINSW Residential Vacancy Rate Report reveals a 0.4 per cent increase in vacancies across Sydney, from 3.2 per cent on 15 February, to 3.6 per cent on 15 March.
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Apartment living in Newcastle provides young professionals with the opportunity to rent close to the city, as the skyline sees development continue.
Other key NSW reporting areas such as the Illawarra region saw a 0.2 per cent fall in vacancy rate, while the Hunter region remained steady at 1.7 per cent.
Overall vacancy rates in the Hunter region remained steady, particularly in Newcastle where there was a 2.1 per cent vacancy rate in both February and March.
Other areas in the region dropped by 0.1 per cent from February, to 1.5 per cent this month.
According to data from Pricefinder.com the average rental price for houses in Newcastle is $504.00 per week.
