Finding rental property in the major cities of New South Wales can prove quite a challenge. High demand can drive up the price and make it difficult to secure suitable accommodation.
Fortunately, rental vacancy rates reveal improvement in the urban centres of the state for the month of June.
Data from the Real Estate Institute of New South Wales (REINSW) shows rises in Sydney, Wollongong and Newcastle.
"June did prove to be a good month for those looking to rent a property, with some strong increases recorded in available properties towards the end of the financial year," said REINSW President Christian Payne on July 11.
"Nowhere is this more the case than in Wollongong, which now offers prospective tenants a wide choice of available property."
Wollongong saw the largest increase in the NSW metropolitan area, rising 0.4 to 3.2 per cent.
Though Sydney saw modest improvement, up 0.1 to 1.8 per cent, the rental vacancy rate is still well below the supply and demand equilibrium of three per cent.
Mr Payne suggests further improvement may be on the way with the full impact of the recent interest rate cuts yet to be revealed.
