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2 clusters · 2 sources · 10 days · First seen · Last updated
New South Wales housing and rental shortages
Overview
The Mid North Coast region of New South Wales is experiencing a critical rental supply shortage. Data from the Real Estate Institute of NSW indicates that the rental vacancy rate reached one per cent in September, falling well below the three per cent level typically deemed healthy. Tim McKibbin, CEO of REINSW, stated that low vacancies are forcing tenants to face limited options and extreme difficulty finding homes, noting that investors are increasingly choosing to sell properties rather than maintain them in the rental market.
In the Newcastle, Lake Macquarie, and Hunter regions, approximately 6,400 households are waiting for social housing. More than 765 of these households are on a priority list, comprising essential workers, low-income families, elderly individuals, and people fleeing domestic violence.
Entities
Newcastle · Hunter · Home In Place · Lake Macquarie · Real Estate Institute of NSW
Timeline
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[POLITICS] 2 sourcesSocial housing shortage affects thousands in New South Wales
Nearly 6,400 households in the Newcastle, Lake Macquarie, and Hunter regions are waiting for social housing, affecting vulnerable groups including refugees and essential workers.
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[BUSINESS] 2 sourcesMid North Coast rental shortage threatens local housing stability
A critical rental supply shortage on Australia's Mid North Coast has driven vacancy rates to one per cent, increasing homelessness risks.
Sources
dungogchronicle.com.au · gloucesteradvocate.com.au