News

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



Stay Connected

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

Green thumbed crime needs to be weeded out: cops

The site of a stolen tree at Casuarina.

Landscaping misdemeanours are flowering in the Casuarina village.

‘I’m not drunk or lazy: I’ve got MS.’

MS Suffer Debbie Monaghan on her mobility scooter at Tweed Heads.

Debbie Monaghan often attracts unwanted attention from strangers whe

Latest deals and offers

Barnaby Joyce talks Johnny Depp's dogs in Tweed

Deputy Prime Minister Barnaby Joyce talks about Johnny Depp's dogs Pistol and Boo...

Road rage caught on Dashcam

Attack with a baseball bat caught on Dashcam

Video of a violent road rage incident in Orange last December.

Malcolm Turnbull and Barnaby Joyce tour Rockhampton sweet potato farm

Prime Minister Malcolm Turnbull and Deputy Prime Minister Barnaby Joyce visit a...

Perfect time to invest in Northern Rivers property

The Northern Rivers rental market is tighter than Sydney making it the perfect time for investors to get better returns out of property than superannuation or banks deposits.

Low interest rates and tight rental market are prime time to invest