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Rental vacancies end the year up significantly in the state's South East
The latest figures for December 2008 show a 1.2% increase in the percentage of available rental properties in the South Eastern District, ending the year at 2.3%.
“The December figures are a very strong result and are a good improvement in the rental picture for the state’s South Eastern District,” said REINSW President Steve Martin.
“Yet despite the 1.2% increase, South Eastern NSW continues to lager behind other parts of the state.
“South Eastern’s December result of 2.3%, remains well behind 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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