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Sydney rental vacancy crisis worsened low areas southwest of the region

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New Jersey Association of Realtors said the deterioration of the Sydney rental market again, where low-cost Southwest Region and the impact of the most popular inner city. It is reported that the housing vacancy rate within the city continued to fall to 1.1%, reaching the lowest point for six months. Real Estate Association Chairman Wane Stewart said: "This trend will continue in early 2011, as the beginning of college admissions, many students will join the army to find housing. Then, the rental housing market will become even more scarce." Real estate analysis firm SQM Research said the vacancy rate of decline in the southwest area. In the Bonnyrigg area, in October of 0.3% vacancy rate is the lowest vacancy rate in Sydney area. Bankstown (Bankstown) housing vacancy rate was 0.4%, Campbell Town (Campbelltown) vacancy rate of 0.8%. Louis Chritopher SQM manager, said the supply of affordable housing downturn, so competitive. "These two areas are mainly occupied type property, developers do not have much stock, as these areas less money." Housing vacancy rate in some inner city has shown a downward trend, such as the Red Square area (Redfern) vacancy rate of only 0.5%, Newtown area vacancy rate of 0.8%. Although the Government has not published recent data on housing vacancy rate, but the new report said the state housing department, the whole range of accommodation in Sydney will continue to rise, the vacancy rate lowest in price the fastest. Currently, the Sydney South West Area (including Campbell Town) the average cost of rent for two-bedroom apartment in the past year rose 12% to 270 a week, is the city rose the highest. Campbell Town, a real estate agent said last more than 30 tenants at the same time look at a property, so the landlord strong demand prices. In the Red Square area, a two-bedroom apartments, the average cost of rent in the past year rose 9% to 545 yuan per week. According to SQM's report, the Sydney city average housing vacancy rate was 1.2%.