Tightening rental vacancy across Sydney highlights investment opportunity

Rental property vacancy rates across Sydney have reached a low point, which could highlight the possibility of purchasing investment rental property in the city's Inner West suburbs in the near future.
A recent release from the Real Estate Institute of New South Wales (REINSW) has found the number of properties available for rent across the city has dropped to 1.4 per cent, which REINSW President Malcolm Gunning said hasn't been this low since November 2011.
"Sydney is going backwards in regard to properties available for rent. Something must be done to ensure that there is a greater level of choice for those seeking to secure a rental property in Australia's biggest city," said Mr Gunning an an April 23 statement.
Mr Gunning went on to say that the vacancy rate for the Inner Sydney suburbs (less than 1 kilometres from the CBD) dropped by 0.2 points, coming to a rest at 1.3 per cent. Moving out further to the middle suburbs (10 to 25 kilometres outside the CBD) and outer suburbs (more than 25 kilometres away from the CBD), the vacancy rates in these areas have been recorded at 1.6 per cent and 1.5 per cent, respectively.
Furthermore, he mentioned the potential changes on the horizon from New South Wales Premier Mike Baird with regards to highlighting the inequalities of the current housing planning system, as well as the lack of incentives for first home buyers - who are continually being pushed out of the market due to lacking support from the government.
However, with the vacancy rate continuing to drop, now could be a great time to consider securing your own slice of investment property in the Leichhardt area. As more people begin to move towards Sydney's metropolitan hub, accommodation will be sought in regions closer to the central business district.