Omicron has frozen rental markets throughout NSW as people put moving plans on hold and shelter in place to avoid catching the virus.
“The impact of the omicron variant is being felt everywhere and the residential rental market is not immune,” Mr McKibbin said.Advertisement “But now I think everything is just frozen. People are just staying put because it’s difficult to find somewhere to move to unless you’re in the inner-city.”The industry group’s figures show vacancy rates in Sydney’s inner suburbs – which include local government areas such as Sydney, Waverley, Woollahra, Marrickville and Ashfield – tightened by 0.7 per cent to 3.7 per cent during December, pulling the overall Sydney rental vacancy rate down 0.2 percentage points to 2.8 per cent.
Good my lease is about up