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Murrumbidgee rental vacancies fall in October
The percentage of available rental properties fell 0.7% in October to stand at 2.9%.
“Unfortunately the rental picture in the Murrumbidgee remains gloomy,” said REINSW President Steve Martin.
“Investment in rental properties has improved over the later part of this year with lower interest rates and good rental income enticing investors into the market.
"Unfortunately, this combined with the move of first home buyers out of rental accommodation has still not enabled rental supply to match demand.
“As these stimulus factors weaken, and with no sign of demand abating, things will only continue to be difficult for renters over the foreseeable future.
“The government needs to urgently encourage and incentivize better use of land to ease the tight rental market.
“We need a strategic approach in NSW to solve this problem in order to avoid a worse situation in 2010,” said Mr Martin.
Residential vacancy rates in NSW:
|
October
2009 |
September
2009 |
August
2009 |
July
2009 |
June
2009 |
May
2009 |
April
2009 |
| SYDNEY |
1.6% |
1.3% |
1.3% |
1.5% |
1.3% |
1.3% |
1.5% |
| Inner (0-10km from CBD) |
1.5 |
1.4 |
1.5 |
1.8 |
1.6 |
1.4 |
1.4 |
| Middle (10-25km) |
1.0 |
1.4 |
1.3 |
1.5 |
1.4 |
1.5 |
1.7 |
| Outer (>25km) |
1.3 |
1.0 |
1.9 |
1.1 |
0.9 |
1.0 |
1.4 |
| |
|
|
|
|
|
|
|
| HUNTER |
1.6 |
1.5 |
1.6 |
1.9 |
1.8 |
1.7 |
1.9 |
| Newcastle |
1.6 |
1.6 |
1.8 |
1.4 |
1.6 |
1.5 |
1.7 |
| Other |
1.5 |
1.4 |
1.4 |
2.3 |
2.0 |
1.9 |
2.1 |
| |
|
|
|
|
|
|
|
| ILLAWARRA |
1.8 |
1.7 |
1.3 |
1.9 |
1.8 |
1.6 |
1.9 |
| Wollongong |
1.8 |
1.6 |
1.3 |
1.9 |
1.6 |
1.2 |
2.2 |
| Other |
1.7 |
1.8 |
1.3 |
1.8 |
2.3 |
2.7 |
1.4 |
| |
|
|
|
|
|
|
|
| Central Coast |
1.5 |
1.6 |
1.6 |
2.1 |
2.1 |
1.6 |
1.7 |
| |
|
|
|
|
|
|
|
| Albury |
1.8 |
1.5 |
2.3 |
2.6 |
2.5 |
2.3 |
2.1 |
| Central West |
1.8 |
2.0 |
2.1 |
2.5 |
2.8 |
2.2 |
2.9 |
| Coffs Harbour |
2.7 |
1.9 |
4.1 |
4.6 |
3.9 |
3.3 |
1.8 |
| Far West |
0.4 |
0.6 |
- |
- |
- |
- |
- |
| Mid-North Coast |
1.5 |
2.3 |
2.2 |
1.6 |
2.0 |
1.8 |
2.1 |
| Murrumbidgee |
2.9 |
3.6 |
- |
- |
- |
- |
- |
| New England |
2.9 |
2.0 |
1.7 |
2.4 |
2.8 |
1.9 |
1.8 |
| Northern Rivers |
2.4 |
2.3 |
1.9 |
1.9 |
2.0 |
2.2 |
2.7 |
| Orana |
1.1 |
1.2 |
1.4 |
1.2 |
1.0 |
1.6 |
1.6 |
| Riverina |
4.1 |
1.5 |
1.3 |
1.6 |
2.1 |
2.0 |
2.3 |
| South Coast |
2.1 |
2.9 |
2.2 |
3.5 |
3.5 |
3.5 |
3.7 |
| South Eastern |
5.3 |
0.8 |
1.7 |
1.6 |
1.5 |
2.5 |
1.5 |
Members can access Vacancy Rate Survey results for the years 2001 to 2008 by clicking here. 
Please direct media inquiries to Julian Brophy on 0408 276 749.
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