Mid North Coast rental shortage threatens local housing stability

The Mid North Coast rental market is facing a critical supply shortage, pushing local residents toward homelessness. According to data from the Real Estate Institute of NSW (REINSW), the rental vacancy rate for the region was just one per cent in September, significantly below the three per cent level typically considered healthy for tenant choice and investor stability.

Tim McKibbin, CEO of REINSW, noted that low vacancies are forcing tenants to face limited options and extreme difficulty finding homes. He observed that investors are increasingly choosing to sell their properties rather than keep them in the rental market. McKibbin argued that the government needs to prioritize increasing housing supply and exercising political courage rather than implementing restrictive tenant laws that address symptoms rather than the underlying shortage.