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Uni students send vacancy rate soaring

18 February 2013 Steven Cross

New figures from the Real Estate Institute of NSW (REINSW) show that Coffs Harbour is the easiest place to find accommodation in the state.

The January 2013 REINSW Vacancy Rate Survey saw Coffs Harbour’s vacancy rate leap 0.6 per cent to 4.3 per cent.

REINSW Coffs Harbour division chair and principal of Unrealestate Coffs Coast, Chris Hines, said students and staff from Southern Cross University played a key role in the residential vacancy rates for the area.

“The higher vacancy rate may be impacted by university holidays," he said. “Orientation week begins shortly so the students will be coming back to rent again, which will see vacancy rates fall over the coming months.

“We have also had a significant influx of workers due to highway bypass work in recent years, which had also started to ease off since the works have been completed.

“The vacancy rates may also be influenced by a number of low cost government housing projects, which have gone ahead in the area,” Mr Hines added.

Looking at other areas, Sydney had an increase of 0.3 per cent across the metropolitan area to 2.2 per cent.

Solid rises in vacancy rates were also seen in the Hunter, with a total increase of 0.5 per cent to 2.6 per cent.

Newcastle was up 0.4 per cent to 2.0 per cent.

The Illawarra jumped 0.3 per cent to 2.4 per cent, with Wollongong lifting 0.3 per cent to 2.8 per cent.

The most difficult place to find rental accommodation in NSW is now Orana, which bucked the trend to fall 0.3 per cent at 1.7 per cent.

Uni students send vacancy rate soaring
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