Coffs Harbour the easiest place to rent in NSW
With Sydney boasting one of the tightest rental markets in the country, those looking to lease property in New South Wales may want to look outside of the state's capital.
According to data released by the Real Estate Institute of NSW (REINSW) yesterday (February 14), Coffs Harbour is the easiest place to find rental property in the state.
The January 2013 REINSW Vacancy Rate Survey showed Coffs Harbour's vacancy rate increased 0.6 per cent to 4.3 per cent.
In comparison, vacancy rates increased 0.3 per cent to 2.2 per cent in Sydney during the same period - significantly lower than the three per cent that is considered balanced for capital cities.
Christ Hines of REINSW attributed increasing availability in Coffs Harbour to seasonal population changes in the area.
"The higher vacancy rate may be impacted by university holidays. Orientation week begins shortly so the students will be coming back to rent again, which will see vacancy rates fall over the coming months," Mr Hines explained.
"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 Orana region emerged as the hardest place to find rental properties in NSW, with the area falling 0.3 per cent to 1.7 per cent.