Rental vacancies on the decline

THE latest rental vacancy rates show it's become harder to find a rental property in Coffs Harbour.

The Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey shows Coffs Harbour's rate tightened to 2.1% in July, down from 2.5% in June.

The vacancy rate is the lowest for Coffs Harbour this year and the lowest since December 2014. The vacancy rate has been steadily declining since reaching a peak of 3.2% in February.

The easiest place to find a rental property in NSW was the New England where the vacancy rate reached 4.6% in July.

The Vacancy Rate survey comes as Corelogic RP Data figures show the median rental price for a house in Coffs Harbour has reach $390 per week; a 16.2% increase in the last five years. Unit median rents are $310 per week, a 24% rise over five years.



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