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Lack of properties, rates anxiety stifling real estate sector

Investor and real estate sector confidence is heavily dependent on economic certainties but anxiety over the RBA's monthly interest rate moves and a lack of supply are stifling the sector and causing pain for renters.

Aerial drone view of Flagstaff Point Lighthouse at Wollongong on the New South Wales South Coast, Australia with Wollongong city in the back ground on a sunny day.
Wollongong in regional NSW is like so many other rental markets in the state, with a critically low vacancy rate of just 0.7 per cent.

The stark shortage of rental accommodation is having a major impact.

That was the recurring theme that echoed throughout the REINSW regional tour.

REINSW spent the last few months visiting key metropolitan and regional markets around the state for its annual Roadshow tour. 

Members continue to emphasise the lack of options for renters. Many tenants are staying put in properties that don’t satisfy their needs, out of fear they will not be able …