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The residential vacancy rate in the Dubbo region of Orana remains the lowest in NSW, new data reveals.
The March 2013 Real Estate Institute of NSW (REINSW) Vacancy Rate Survey saw rental accommodation in the Orana region at 1.6 per cent, despite a rise of 0.5 per cent.
Landmark Harcourts Dubbo real estate specialist Mark Searle said the rental squeeze had been happening in the area for some time.
"Orana was the most difficult place to find rental accommodation in NSW for the third month in a row,” Mr Searle said.
“The ongoing rental shortage has implications for employment and business expansion in the area because new and existing workers can’t find accommodation. It impacts on Orana’s economic growth.”
Mr Searle noted that new building starts had been very low over the last few years, which has contributed to the overall vacancy rate decline.
“The Orana division of REINSW has been working with Dubbo City Council for the last eight years to review zoning to allow for a wider variety of property types," he said.
“We are currently producing a white paper in conjunction with the Dubbo Chamber of Commerce and the council, and we hope to address many of these issues over the next 12 months.
“REINSW believes there should be more incentives for investors and first home buyers,” Mr Searle said.
Across the state, rental availability on the Central Coast jumped 0.5 per cent to 2.4 per cent, and Coffs Harbour was again the easiest place to find rental accommodation with a rise of 0.4 per cent to 4.3 per cent.
The Northern Rivers and Mid North Coast regions also saw rises of 0.4 per cent to 2.7 per cent and 2.3 per cent, respectively.
New England bucked the trend with a fall of 0.8 per cent to 2.5 per cent, the Riverina declined 0.1 per cent to 3.4 per cent, while Albury’s availability increased 0.1 per cent to 1.7 per cent.
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