Grafton rental market from soft to tight says McKimms

Rental market softens then tightens
Rental market softens then tightens

AS THE metropolitan rental market tightens, here in the Clarence Valley it's been "all over the shop", according to one property manager.

Angus McKimm from McKimm's Real Estate said he found early August through to early October to be "soft" months with increasing vacancies.

"There were even some price reductions from landlords keen to secure a good tenant," Mr McKimm said.

"That changed dramatically however by mid October and it is now very difficult to find a rental in Grafton.

"We have many families who have been looking for weeks and weeks and applying for dozens of houses with no success."

The Real Estate Institute of New South Wales released figures last week showing the Northern Rivers vacancy rate had fallen to 2.2% from 3% six months ago.

Coffs Harbour has the highest vacancy rate in NSW at 3.6%, however it did experience a 0.1% fall last month.

The Sydney rental market has tightened to have a vacancy rate of just 1.9%, which has prompted REINSW to call on the government to create incentives for investment in the inner city to tackle what it described as a "rental crisis."

Topics:  rental market

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