New record-low vacancy rate more proof that NSW is in the midst of a housing crisis

Media release

03 March 2023

The peak body for community housing in NSW, Community Housing Industry Association NSW (CHIA NSW) is calling on the NSW Government to confront the housing crisis as Sydney records yet another new record-low rental vacancy rate.

Mark Degotardi, CEO of CHIA NSW said the vacancy rate figures were one of many indicators that NSW is facing a housing crisis.

“Sydney’s new record-low vacancy rate is more proof that our state is in the midst of a housing crisis,” said Mark Degotardi, CEO of CHIA NSW.

“The social housing waitlist in NSW increased by 15% in the last year alone, to almost 58,000 families and individuals. This number is going to get worse, as there aren’t enough homes available for people to rent.

“This is a crisis, and it requires an urgent, emergency response from the NSW Government,” Mr Degotardi said. 

The data released today by Domain for February shows that vacancy rate in Sydney have slipped to a new record low 0.9 per cent, with Domain warning the conditions are going to get more serious. This vacancy rate has halved since the same time last year, and has decreased by over 65% since January 2021.

“One of the key causes of the housing crisis is neglect by successive state governments. For decades they have failed to invest in the social and affordable rental housing NSW desperately needs,” said Mr Degotardi.

“Our leaders cannot keep turning their backs on the thousands of families across our state struggling to keep a roof over their head. Ahead of the state election, both sides of politics must confront the crisis, and commit to investing in the social and affordable housing our state needs,” Mr Degotardi said.

Media contact: Kayla Foster, 0447 040 029