Coffs Harbour recorded the highest rental vacancy rates in NSW.
Coffs Harbour recorded the highest rental vacancy rates in NSW.

Rental vacancies rise

TENANTS on the Coffs Coast are getting more choice on which property to lease, with Coffs Harbour experiencing the highest rental vacancies in NSW.

While the finding reported by the Real Estate Institute of New South Wales may be good news for renters, the same can't be said for agents and landlords.

The REI has found Coffs Harbour recorded a rental vacancy rate of 5.1% - the highest of any centre in NSW.

REINSW president Christian Payne said there was plenty of choice in the local market for tenants looking to rent.

Mr Payne said the Coffs Harbour finding coincides with vacancy rates across all major metropolitan markets in NSW, which also rose.

"June did prove to be a good month for those looking to rent a property, with some strong increases recorded in available properties towards the end of the financial year," Mr Payne said. 

"Elsewhere across the state there were more modest increases, which have also improved the situation for tenants.

"It is clear that whatever the reason for the increases, it is still too early to be seeing any impact from the state government's Budget initiatives announced in May.

"Given the incentives are only just starting to come online now and the full package not expected to be in place until October, the increases we have seen in the rental market are attributable to other factors," he said. 



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