Renting is now harder
RENTING in Coffs Harbour is harder than it's been in years, with the vacancy rate falling at the beginning of this year.
Data released from the Real Estate Institute of NSW show that rental vacancies in Coffs Harbour fell to 2.5 per cent in January, the lowest rate in a year and a half.
REINSW president Steve Martin said Coffs Harbour joins other regional areas where rental vacancies have fallen below three per cent. “Unfortunately there has been no improvement in the rental picture in Coffs Harbour at the start of 2009,” Mr Martin said.
“This is the lowest vacancy rate we've seen in Coffs Harbour since November 2007.”
Mr Martin said despite interest rates being at historic lows, Coffs Harbour has lost virtually all gains made in 2008.
“This is despite an almost perfect property investment environment with low interest rates,” he said.
“Hopefully we will see a return to greater rental availability over the coming months.”