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South Coast rentals jump sharply
The percentage of available properties on the South Coast rose 1.4% to 3.7% in April.
“These are very good results for the South Coast and are the highest since September 2008,” said REINSW President Steve Martin.
“A vacancy rate of between 3% and 4% represents a happy medium between supply and demand and this is exactly where we need to be.
“I think we are now starting to see the effect of the low interest rate environment with investors now following the lead of first home buyers.
“In addition, the first home buyer’s boost is resulting in many people buying their own home and consequently freeing up rental stock," said Mr Martin.
Residential vacancy rates in NSW:
|
April
2009 |
March
2009 |
February
2009 |
January
2009 |
December
2008 |
November
2008 |
| SYDNEY |
1.5% |
1.2% |
1.3% |
1.4% |
1.4% |
1.3% |
| Inner (0-10km from CBD) |
1.4 |
1.2 |
1.3 |
1.3 |
1.3 |
1.3 |
| Middle (10-25km) |
1.7 |
1.5 |
1.3 |
1.3 |
1.5 |
1.2 |
| Outer (>25km) |
1.4 |
0.9 |
1.1 |
1.7 |
1.4 |
1.3 |
| |
|
|
|
|
|
|
| HUNTER |
1.9 |
1.9 |
1.7 |
2.0 |
1.7 |
1.8 |
| Newcastle |
1.7 |
2.2 |
1.3 |
2.2 |
2.1 |
1.7 |
| Other |
2.1 |
1.6 |
2.2 |
1.8 |
1.4 |
1.8 |
| |
|
|
|
|
|
|
| ILLAWARRA |
1.9 |
2.0 |
1.9 |
2.6 |
2.9 |
2.1 |
| Wollongong |
2.2 |
1.6 |
1.5 |
2.4 |
3.0 |
1.9 |
| Other |
1.4 |
2.7 |
2.7 |
3.0 |
2.9 |
0.7 |
| |
|
|
|
|
|
|
| Central Coast |
1.7 |
2.2 |
2.6 |
2.3 |
2.0 |
2.2 |
| |
|
|
|
|
|
|
| Albury |
2.1 |
1.7 |
3.4 |
2.7 |
3.1 |
3.7 |
| Central West |
2.9 |
3.1 |
3.1 |
2.5 |
3.6 |
4.2 |
| Coffs Harbour |
1.8 |
3.6 |
2.7 |
2.5 |
3.5 |
4.0 |
| Mid-North Coast |
2.1 |
1.4 |
2.0 |
1.8 |
2.0 |
1.9 |
| New England |
1.8 |
2.0 |
2.1 |
2.4 |
2.6 |
2.2 |
| Northern Rivers |
2.7 |
2.2 |
2.0 |
2.3 |
1.8 |
1.8 |
| Orana |
1.6 |
1.6 |
2.9 |
3.3 |
3.3 |
3.4 |
| Riverina |
2.3 |
2.2 |
3.0 |
2.6 |
3.1 |
1.9 |
| South Coast |
3.7 |
2.3 |
3.3 |
2.6 |
2.5 |
2.5 |
| South Eastern |
1.5 |
3.5 |
2.6 |
2.4 |
2.3 |
1.1 |
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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