The number of available rental properties in Sydney was 1.6 percent in July. The figure is close to the 1.7 percent vacancy rate in January 2010.

The Real Estate Institute of NSW (REINSW) also disclosed a slight drop in the figures for Newcastle and an almost unchanged number for Wollongong. Changes in the rental vacancy rates across New South Wales was very minimal from July 2009.

REINSW president Wayne Stewart considered the Sydney vacancies as still at historically low levels.

“There is no doubt that the July 2010 vacancy data shows improvement in parts of Sydney,” Stewart said. “However, the fact remains we continue to witness historically low levels of available properties.”

Rental vacancies in New Castle decreased from 2.1 percent in June to 1.7 percent in July. The figures were 1.4 percent in July 2009. Wollongong's rate rose by 0.1 percentage point from 1.3 in June to 1.4 percent in July. July 2009 figures was 1.9 percent.

A fall in the Central Coast rental vacancy rate made it equal last year's figures. The vacancy rate fell by 0.2 percentage points to 2.1 percent in July this year.

Stewart said housing could be made affordable with reforms from “all sides of politics.” He continues to encourage investment in the private rental market.