Property

Workers will lift vacancy woes

THE RENTAL market in the Clarence Valley is bumping along the bottom, but things are about to change for the better says a senior executive from Australian Property Monitors.

APM senior economist Andrew Wilson said the rental market will boom when construction begins on the Pacific Hwy upgrade.

Mr Wilson toured the north of NSW a few weeks ago to see first hand what the property market was like. "Grafton is one of our under-performing areas," he said. "It's a reflection of a two-speed economy in the area.

"The seaside places are doing all right, but away from the coast, like Grafton and Lismore, it's a struggle."

The figures showed the Clarence Valley's 257 houses for rent yielded a median of $290 a week. This had not changed over a year.

The average yield per property was 6% - the highest of the regions in the survey. Mr Wilson said the Valley's high yield figure was slightly misleading.

"It reflects low house prices," he said. "There is a worry then with a high vacancy rate."

Mr Wilson said the availability of relatively cheap rentals would be attractive to workers when highway construction started.

Topics:  clarence valley, pacific highway, property, rental market




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Grafton schools rally behind Gonski funding

Staff from Grafton Public and High School, Westlawn Public School and Induna School joined community members at Grafton Public School to hear the President of the Australian Education Union Correna Haythrope talk about Gonski.

The Gonski billboard visited Grafton schools and teachers.

Seven kilos of cannabis, 450 plants found on Lawrence farms

Farmer and his neighbour sentenced for drug cultivation

OUR SAY: Pyne’s low-speed ambition a short-sighted vision

Australian Minister for Industry Christopher Pyne reacts during House of Representatives Question Time at Parliament House in Canberra, Thursday, May 5, 2016. (AAP Image/Sam Mooy) NO ARCHIVING

Federal Innovation Minister tells us we don't need high speed NBN

Latest deals and offers

Men's Shed possum boxes

(back l-r) David Abrahams, Frank heppell, Warren Moss, Kevin Wtkins and (front) Darcy Knight with some of the possum boxes the Grafton Men's Shed are making for the new highway construction.

Grafton Men's Shed members have made 65 possum boxes for Eco Logical Australia to...

Schools rally behind Gonski

Staff from Grafton Public and High School, Westlawn Public School and Induna School joined community members at Grafton Public School to hear from the President of the Australian Education Union Correna Haythrope talk about Gonski.

Teachers, principals and community members met at Grafton Public School this...

How to peel a potato fast

There is a fast way to peel potatoes.

You've been doing it wrong all this time.

Perfect time to invest in Northern Rivers property

The Northern Rivers rental market is tighter than Sydney making it the perfect time for investors to get better returns out of property than superannuation or banks deposits.

Low interest rates and tight rental market are prime time to invest