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Question and Answer Tracking Details

0589 - PROPERTY VACANCY RATES

Haylen, Jo to the Minister for Water, Property and Housing
  1. Does the Government attempt to measure vacancy rates of properties in New South Wales?
    1. If so, what is the methodology used?
    2. If not, why not ?
  2. What have been the vacancy rates of residential properties in the Greater Sydney Region in each of the past eight financial years (as at 19 June 2019)?
Answer -

(1) Yes, Property NSW measures vacancy rates of properties in New South Wales, that are managed by Property NSW.

(a) For properties managed by Property NSW, a database is maintained for:

  • Government commercial office space located in metro and regional regions across New South Wales
  • The Rocks precinct commercial portfolio incorporating significant retail and public space
  • Housing portfolio comprising residential properties for teachers and police staff located in regional areas.

The commercial portfolios capture the total occupiable net lettable area (metres squared) as well as all identified occupiable vacant net lettable area (metres squared). Commercial space vacancy rates are measured on the basis of the percentage of vacant occupiable net lettable area (m2) as a part of the total net lettable area (metres squared).

Property NSW captures data regarding residential properties for NSW Teacher Housing and Police Housing. Occupancy is measured on the basis of number of days occupied by the number of days available for lease, from which Vacancy rates can be determined.

(b) Property NSW also manages some industrial, warehouse, recreation and unimproved land sites. Vacancy is captured and managed across these sites.

(2) Not applicaable - There are no Property NSW managed residential properties in the Greater Sydney Region.

Question asked on 19 June 2019 (session 57-1) and printed in Questions & Answers Paper No. 11
Answer received on 23 July 2019 and printed in Questions & Answers Paper No. 14