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Rental vacancies end the year up significantly in the Riverina
The latest figures for December 2008 show a 1.2% increase in the percentage of available rental properties in the Riverina, ending the year at 3.1%.
“The December results show a very strong result and good improvement in the rental picture for the Riverina district,” said REINSW President Steve Martin.
“The 1.2% increase means the Riverina now has one of the highest percentages of available rental properties in regional NSW.
“The Riverina’s result of 3.1 % for December compares well to other regional centres surveyed by REINSW including:
- Central West – 3.6%
- Coffs Harbour – 3.5%
- Albury – 3.1%
“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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