Latest NewsFewer Rental Homes Available in CitiesFriday, 07 April 2017

Landlords and Investors may be rubbing their hands together, but for Tenants, it's an entirely different story.

A chronic shortage of available rental homes is now a permanent fact of life in NSW's major metropolitan areas, the Real Estate Institute of NSW (REINSW) says.

Residential vacancy rates tumbled to their lowest levels in 12 months in Sydney and Newcastle during September, slipping to 1.2 per cent in both cities.

Vacancy rates also fell in most regional centres, the Illawarra.

"Unfortunately the rental market in our major metropolitan centres has worsened in September and the prospects for renters, no matter where they choose to live are grim indeed," REINSW president Wayne Stewart said.

He called on the state government to reduce property related taxes and to simplify planing laws.

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