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Rental vacancies fall in Orana for February
The percentage of available properties dropped 0.4% to 2.9%.
"These are disappointing results; we would have anticipated some improvement as a result of the increase in first home buyers,” said REINSW President Steve Martin.
“What is clear is that for sustained growth in the rental market to occur, we are going to need to remove the disincentives and provide encouragement to get investors back into this crucial market.
“The Federal Government has done a significant amount in terms of stimulating first home buyers; it is now up to the NSW Government to at least remove the disincentives, particularly in the areas of stamp duty and land tax.
“Even discounting or waiving some of these taxes for a limited period would provide significant encouragement to investors who are on the sidelines,” said Mr Martin.
“It is clear that more needs to be done to get investors back into the market in order for any real and sustained growth to occur in the rental sector.
“Now is the time for the NSW Government to act and deliver investors some positive news in the upcoming State Budget,” said Mr Martin.
Residential vacancy rates in NSW:
|
February
2009 |
January
2009 |
December
2008 |
November
2008 |
October
2008 |
September
2008 |
| SYDNEY |
1.3% |
1.4% |
1.4% |
1.3% |
1.1% |
1.2% |
| Inner (0-10km from CBD) |
1.3 |
1.3 |
1.3 |
1.3 |
1.1 |
1.5 |
| Middle (10-25km) |
1.3 |
1.3 |
1.5 |
1.2 |
1.1 |
1.1 |
| Outer (>25km) |
1.1 |
1.7 |
1.4 |
1.3 |
1.0 |
1.1 |
| |
|
|
|
|
|
|
| HUNTER |
1.7 |
2.0 |
1.7 |
1.8 |
1.5 |
1.8 |
| Newcastle |
1.3 |
2.2 |
2.1 |
1.7 |
1.6 |
1.6 |
| Other |
2.2 |
1.8 |
1.4 |
1.8 |
1.4 |
2.1 |
| |
|
|
|
|
|
|
| ILLAWARRA |
1.9 |
2.6 |
2.9 |
2.1 |
2.1 |
1.8 |
| Wollongong |
1.5 |
2.4 |
3.0 |
1.9 |
2.2 |
1.4 |
| Other |
2.7 |
3.0 |
2.9 |
0.7 |
1.9 |
2.4 |
| |
|
|
|
|
|
|
| Central Coast |
2.6 |
2.3 |
2.0 |
2.2 |
2.2 |
3.0 |
| |
|
|
|
|
|
|
| Albury |
3.4 |
2.7 |
3.1 |
3.7 |
3.4 |
3.0 |
| Central West |
3.1 |
2.5 |
3.6 |
4.2 |
4.7 |
4.4 |
| Coffs Harbour |
2.7 |
2.5 |
3.5 |
4.0 |
2.9 |
4.1 |
| Mid-North Coast |
2.0 |
1.8 |
2.0 |
1.9 |
2.7 |
2.4 |
| New England |
2.1 |
2.4 |
2.6 |
2.2 |
3.9 |
4.1 |
| Northern Rivers |
2.0 |
2.3 |
1.8 |
1.8 |
2.8 |
1.9 |
| Orana |
2.9 |
3.3 |
3.3 |
3.4 |
3.6 |
2.6 |
| Riverina |
3.0 |
2.6 |
3.1 |
1.9 |
2.6 |
2.7 |
| South Coast |
3.3 |
2.6 |
2.5 |
2.5 |
3.4 |
4.1 |
| South Eastern |
2.6 |
2.4 |
2.3 |
1.1 |
2.5 |
3.7 |
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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