Rental easy street is found right here in Coffs Harbour
COFFS Harbour is the easiest place to find rental accommodation in NSW, according to the April 2013 REINSW Vacancy Rate Survey.
This is despite a decline of 0.2% from March to 4.1%.
Students and staff from Southern Cross University played a key role in the vacancy rates for the area, with some of the drop attributable to students coming back to rent in recent months. There has also been a significant influx of workers due to highway bypass work in recent years, which has also started to ease off since the works have been completed.
Notwithstanding these favourable results, the NSW Government still needs to recognise the supply issues caused by a lack of incentives to invest in the property market. The decision by the RBA to cut interest rates must be supported by appropriate incentives to invest in the property market, including cuts to transfer stamp duty rates in the state budget on June 18, 2013.
Looking across NSW, the Illawarra contracted 0.4% to 1.8%, led by a decline of 0.4% in Wollongong at 1.9%. The Central Coast saw a fall of 0.5% at 1.9% and the Northern Rivers region dropped 0.6% to 2.1%.
Orana, which includes the major centres of Dubbo, Cobar and Mudgee, was the most difficult place to find rental accommodation for a fourth month in a row. A decline of 0.2% saw it with a vacancy rate of 1.4%.
The Hunter region saw an increase of 0.2% to 2.6%, despite a fall of 0.2% in Newcastle to 1.9%.
The Mid North Coast's vacancy rate jumped 0.7% to 3.0% and Albury rose 0.5% to 2.2%.
The April 2013 results saw the Sydney metropolitan area at 1.7%, a decline of 0.1% in availability from March.