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THINGS GO FROM BAD TO WORSE FOR RENTERS
The rental situation also declined in regional areas with the university towns of Newcastle and Wollongong both recording significant falls. In Newcastle the vacancy rate dropped from 1.6% in January to 1.0% and in Wollongong it fell from 2.2% in January to 1.5% in the latest survey.
“I really feel for renters,” said REINSW President Steve Martin. “Every month that we release this data the situation seems to get worse. We had a bit of relief in January when the vacancy rate climbed slightly to 1.2%, but now that the university year has started the figures have gone back into free-fall.
“This is becoming a social issue as people’s right to a roof over their heads is intrinsic to the Australian way of life.
“A recent CommSec report said the best thing the government can do to address the shortage is to take steps to increase private investment in housing. This is an argument we strongly endorse.
“The Government must stop the blame game and do something to help people. The fastest way they can do this is to reduce some of the punitive taxes investors face so that they get back into property and provide the housing that people so desperately need but they must act now.”
Residential vacancy rates in NSW:
|
February
2008 |
January
2008 |
November
2007 |
October
2007 |
September
2007 |
| SYDNEY |
0.9% |
1.2% |
1.1% |
0.9% |
1.2% |
| Inner (0-10km from CBD) |
0.9 |
1.3 |
1.0 |
0.8 |
1.2 |
| Middle (10-25km) |
0.9 |
1.1 |
1.1 |
1.1 |
1.2 |
| Outer (>25km) |
0.9 |
1.1 |
1.1 |
1.0 |
1.1 |
| |
|
|
|
|
|
| HUNTER |
1.3 |
1.7 |
1.5 |
1.7 |
1.6 |
| Newcastle |
1.0 |
1.6 |
1.4 |
1.4 |
1.4 |
| Other |
1.8 |
1.8 |
1.7 |
2.0 |
1.9 |
| |
|
|
|
|
|
| ILLAWARRA |
1.3 |
1.8 |
2.3 |
2.2 |
2.2 |
| Wollongong |
1.5 |
2.2 |
2.6 |
2.1 |
2.1 |
| Other |
1.0 |
1.5 |
1.4 |
2.3 |
2.2 |
| |
|
|
|
|
|
| Central Coast |
2.4 |
2.2 |
2.1 |
2.4 |
2.4 |
| |
|
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|
|
|
| Albury |
3.7 |
3.6 |
2.8 |
3.1 |
2.8 |
| Central West |
3.7 |
4.8 |
4.7 |
4.0 |
4.4 |
| Coffs Harbour |
5.3 |
3.6 |
1.5 |
1.2 |
3.4 |
| Mid-North Coast |
1.4 |
1.6 |
1.4 |
2.6 |
2.8 |
| New England |
3.0 |
3.3 |
2.7 |
4.0 |
2.4 |
| Northern Rivers |
1.5 |
1.9 |
1.0 |
1.6 |
1.6 |
| Orana |
2.7 |
3.1 |
3.0 |
2.3 |
2.2 |
| Riverina |
3.4 |
2.6 |
1.8 |
2.1 |
3.1 |
| South Coast |
4.0 |
2.1 |
3.3 |
4.8 |
4.8 |
| South Eastern |
0.8 |
1.4 |
2.6 |
1.8 |
1.4 |
Members can access Vacancy Rate Survey results for the years 2001 to 2007 by clicking here. 
Please direct media enquiries to Dael Climo on (02) 8267 0527.
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