Rental market remains tight
WHILE the number of rental properties available increased during July, there is still very little local stock to choose from.
According to the Real Estate Institute of NSW (REINSW) Rental Vacancy Rate Survey, Coffs Harbour's rental vacancy was at 2.9% in July, up from 2.3% in June.
"Seasonal factors are playing a role in the increase in vacancy rates (in July), as well as a reduction in activity that we often see at the end and beginning of the financial year,” REINSW president John Cunningham said.
While the local vacancy rate did experience a rise in July, it is still well off the higher vacancies we saw in May (4.1%) and April (3.8%).
The July figure of 2.9% is the third lowest vacancy rate our city has experienced during 2017.