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How many people are taking up rental real estate in eastern suburbs?

By Craig Pontey

If you're seeking out real estate in Double Bay, you're looking at the high-end lifestyle you deserve. From top-end apartments to secluded detached luxury houses, there is a wealth of real estate that allows you to enjoy the finer things in life while never straying too far from the active centre of Sydney.

With the beach usually as close as the CBD, renting property in eastern suburbs is always a popular option. But just how popular? The latest vacancy figures from the Real Estate Institute of New South Wales (REINSW) should shed some light on this. 

Steady as she goes – unless you're right in close

Despite a stable vacancy rate of 1.9 per cent across Sydney as a whole in April, there were some important changes in the makeup of certain areas. For example, after reaching a peak of 2.4 per cent in February, vacancy rates in inner Sydney (including real estate in the eastern suburbs) dropped from 1.9 per cent to 1.7 per cent in April.

This shows an increase in demand for housing stock – a supply that should increase soon, according to REINSW president Malcolm Gunning. 

"We are likely to see stock levels rise again as more new apartments near completion in the coming months. This will see vacancy rates start to trend upwards again, which will provide a wider selection for those looking to rent," he said in the 26 May media release. 

Secure your ideal property

According to 2011 figures from the census, most real estate in Double Bay is apartments or units. These make up 73.9 per cent of all property in the region, while houses account for 15.1 per cent of real estate here. This gives you an indication of what's available, and what kind of stock is likely to come back onto the market.

To take the next step and secure the renting future you deserve, get in touch with Ray White Double Bay. 

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