Property

Northern Rivers vacancy rates slip backwards

LITTLE ROOM: Vacancy rates on rental properties have dropped by .5% in the Northern Rivers to just 1.1%.
LITTLE ROOM: Vacancy rates on rental properties have dropped by .5% in the Northern Rivers to just 1.1%. KentWeakley

IT'S a competition no-one wants to win, but the Northern Rivers has overtaken Sydney as the tightest rental market in New South Wales.

New data from the Real Estate Institute of New South Wales showed while there's fewer homes to rent across the Sydney market, the Northern Rivers vacancy rates have plummeted to just 1.1%.

REINSW president John Cunningham, said the February 2017 REINSW Vacancy Rate Survey revealed the regional areas, Northern Rivers slipped 0.5%, while in comparison the Sydney metropolitan market down 0.2% to 1.9%.

North Coast Community Housing chief executive John McKenna, said this latest report is of huge concern for the whole region.

"The lack of affordable available rental property coupled with the shortage of social housing rental properties makes it even harder for those on the bottom incomes level to find suitable housing in the Northern Rivers and this leads to homelessness," he said.

"The coastal strip is impacted by the rental holiday market and Byron Bay heavily impacted by Airbnb and the private holiday market," he said.

"If you look at the Anglicare survey last year, there were only 54 properties in the whole of the Northern Rivers affordable for people on the lowest third of incomes and we expect that to the same or even worse when the next report comes out in April 2017."

For students at Southern Cross University finding a property to rent can be challenging.

A SCU spokesman said the Lismore student association advises that finding rental properties is tight, particularly at the start of session.

"Anecdotally, students are saying prices are going up and they're missing out," the spokesman said.

"On campus accommodation is provided through Campus Living Villages and currently vacancies are available."

Meanwhile in other regions, Albury was down 0.8% at 3.2%, the South Coast fell 0.2% at 2.1% and Coffs Harbour rose 1.1 per cent to 3.7 per cent and Central Coast gained 0.3 per cent to 2.8 per cent.

The Hunter slipped 0.2% with a 0.7% rise in Newcastle to 2.7% offset by a fall of 0.9% at 1.6% in the rest of the region.

In the Illawarra, vacancy rates fell 0.3% at 1.1% with Wollongong falling from 2.1% to 1.1%.

Topics:  northern rivers development property real estate vacancy rates


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Current road closures across Northern Rivers

Never drive, walk or ride in floodwaters.

Road closures are still in place around the region

How police busted teen Byron Bay 'drug king'

Byron Bay's Flynn Brown, 18, has pleadud guilty to drugs charges.

HSC student was living 'well beyond his means', say police

Ryan Adams announces Byron Bay show

Ryan Adams is an American singer-songwriter, musician, record producer, poet and painter.

Do You Still Love Me? and more hits

Local Partners

CWA roar into town on two wheels and four

WHEN the Country Women's Association come together, you know they are working towards better community outcomes.

Courtney Barnett working on new music to debut in Byron Bay

Melbourne-based singer Courtney Barnett has been added to the Bluesfest 2017 line-up.

Australian rock star is still adjust to her new fame

John Pilger's new film foretolds armed conflict

CONTROVERSIAL: John Pilger is an Australian journalist who has been a strong critic of American, Australian and British foreign policy, which he considers to be driven by an imperialist agenda. He won the Sydney Peace Prize in 2009. This is a still from Pilger's documentary film The Coming War on China (2016).

The Coming War on China screens on the Northern Rivers next week

CMC Rocks is just the ticket for Eric Paslay

HAPPY TO BE HERE: American country singer Eric Paslay will play CMC Rocks 2017.

Country music singer is touring overseas for the first time.

Would you like 90 weeks of paid parental leave?

IF you’re sick of the childcare drop-off and rushing to the office with vomit on your shirt, prepare to hate the “Latte Papas”.

Only one woman nominated for the Gold Logie

Love Child and The Wrong Girl star Jessica Marais is nominated for a Gold Logie this year.

Jessica Marais is about to star in a new Logies controversy

Our Caitlyn a No.1 hit at CMC Music Awards

RISING STAR: Caitlyn Shadbolt at the CMC Music Awards on the Gold Coast.

Caitlyn Shadbolt enjoys one of the most exciting weeks of her career

Steve ventures into the wild unknown on epic mission

Steve Backshall pictured along the Baliem River in a scene from Extreme River Challenge.

Wildlife presenter Steve Backshall tackles wild river challenge.

TV Insider: MKR has lost its recipe for success

My Kitchen Rules judges Colin Fassnidge and Pete Evans with guest judge Curtis Stone, right.

MKR needs a shake (up) of more than just the sauce bottle.

Travis Collins, Keith Urban win big at CMC Music Awards

Country music singer Travis Collins.

LEE Kernaghan also inducted into CMC Hall of Fame.

Disney boss reveals big details about the future of Star Wars

Felicity Jones in a scene from the official trailer for Rogue One: A Star Wars Story.

"Another decade and a half of Star Wars."

It's official: Byron Bay unaffordable

MILLIONAIRES ROW: The Housing Commission house in Keats St, Byron Bay which sold at auction on Saturday for $1.65 million.

Buying a home in Bay Bay is a dream too far for some

Northern Rivers vacancy rates slip backwards

LITTLE ROOM: Vacancy rates on rental properties have dropped by .5% in the Northern Rivers to just 1.1%.

Northern Rivers rental housing shortage beats Sydney

Coast home luring interstate buyers sold

PRIZED POSITION: Blue clip location, peaceful surroundings, spacious living with swimming pool, tennis court on 4562sq
m

The property was described as a 'Queenslander with Hamptons style'

Stylish Coast home lures buyers from four states

PRIZED POSITION: The six-bedroom house with swimming pool and floodlit tennis court is on 4562sq
m.

Expansive property boasts serious space

$1.8m of red soil goes under the hammer in Bundaberg

SOLD: The property at Howletts Rd, Alloway, which went under the hammer on the weekend for $1.8 million.

Red soil, fruit trees and a backing onto the Elliott River

Ready to SELL your property?

Post Your Ad Here!