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Coffs Coast rental vacancy rate half what it was in January

The rental vacancy rate in Coffs Harbour is now half what was reported by the Real Estate Institute of NSW in January.
The rental vacancy rate in Coffs Harbour is now half what was reported by the Real Estate Institute of NSW in January.

FINDING a rental property in Coffs Harbour is twice as difficult as it was at the beginning of 2014.

Figures released by the Real Estate Institute of New South Wales reveal the vacancy rate for November was 2.0%, down by 1.0% on the previous month.

Back in January the rate was 4.1% but it's only in the past few weeks that it has fallen away sharply.

It's even tougher to find a rental property on the Northern Rivers with the vacancy rate down to 1.0%, the lowest in the state and that includes all Sydney Metropolitan zones.

REINSW president Malcolm Gunning has indicated the Coffs Harbour rate coincides with the "parity" figure of 2.0% but state-wide, supply is not meeting demand.

"Therefore, we question the Australian Prudential Regulation Authority's (APRA) concerns and recommendations for banks to tighten their lending criteria to investors," Mr Gunning said.

Topics:  apra reinsw



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