PHOTO: There are now almost 19,000 rental properties sitting vacant.Source: Supplied
RENTS are dropping across Sydney because more rental properties are sitting vacant than at any time in the last 13 years.
Figures released by SQM Research this week revealed 19,114 rental properties in the Harbour City were without a tenant — 2.8 per cent of city rental stock.
This was well up the 1.9 per cent vacancy rate at this time last year and was the highest since SQM began records in 2005.
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