Cracks emerging in Sydney’s apartment rental markets

Sydney’s vacancy rate increased slightly over May, but some of the city’s property markets are showing early stages of an oversupply issue after years of a building boom, data shows.

While Sydney had an apartment vacancy rate increase of 0.2 per cent to 2.2 per cent over the month, Parramatta’s vacancy rate jumped 0.4 per cent to 2.4 per cent, Domain Group senior economist Andrew Wilson said.