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Rental availability hits one-year high in Albury

On Feb 18 2013
Tagged as:
  • NSW


Rural property dwellers looking for rentals around the Albury region in New South Wales may welcome ...

Rural property dwellers looking for rentals around the Albury region in New South Wales may welcome news that accommodation availability has hit a one-year high.

According to the latest Real Estate Institute of NSW (REINSW) Vacancy Rate Survey, the accessibility of rental properties rose 0.1 per cent to two per cent in January.

Greg Wood, chair of the REINSW Albury division, said availability is expected to improve further over the coming months as the market slows down.

"There are a number of universities in the area that vacate and then see students come back into the area. They will all have found accommodation by early February and this should be reflected in figures in the future," Mr Wood explained. 

"We also have a lot of government transfers and families seeking new housing."

The real estate expert went on to say that Albury and Thurgoona have featured in a number of investor publications recently - a trend that has seen more people flock to the area.

The latest data showed that Orana is the most difficult location in NSW to find a rental, with the area recording a 0.3 per cent fall in vacancy rates to 1.7 per cent.

By comparison, Sydney vacancy rates increased 0.3 per cent to 2.2 per cent, while availability jumped 0.4 per cent to two per cent in January.



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