And now the REINSW vacancy rate survey confirms that inner Sydney's vacancy rate has recorded back-to-back readings of just 1.3 per cent, a dynamic I had already hinted at here.
Of course monthly survey readings can oscillate a little, so below I've plotted New South Wales vacancy rates on a 3mMA basis.
While vacancy rates have trended up a little in outer Sydney, in inner Sydney rental stock seems to be becoming remarkably tight.
The REINSW noted that the inner Sydney "market is tight, and is expected to remain tight for quite some time".
And maybe Adani's Carmichael coal project will finally get up, which could arrest the decline.