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Rental vacancies end the year lower in Albury
The latest figures for December 2008 were the lowest recorded in Albury since September 2008, falling 0.6% to 3.1%
“Unfortunately the rental picture in Albury remained gloomy at the end of 2008,” said REINSW President Steve Martin.
“For December the available rental vacancy rate fell to 3.1% which means the market remains very tight in Albury.
“Yes despite the fall, Albury still has a rental vacancy rate in excess of 3% and is well ahead of other regional centres such as Newcastle and areas including:
- the NSW Mid North Coast
- NSW Northern Rivers
- South Eastern NSW
“We are clearly not seeing any return to the NSW property market by investors despite the historic low interest rates now on offer.
“The fact is that market conditions are almost perfect for investors thinking about residential and commercial property.
“It is only a matter of time before we start to see investors coming back into the property sector in strong numbers, similar to the influx of first home buyers witnessed in recent months.
“Once investors are back in the property sector, we will start to see an easing in the current tight rental market,” said Mr Martin.
Members can access Vacancy Rate Survey results for the years 2001 to 2008 by clicking here. 
Please direct media enquiries to Julian Brophy on 0408 276 749.
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