Byron Bay hit by rental property crisis
RENTERS looking for properties in the Byron Shire can expect little relief in the lead-up to Christmas.
In a traditionally busy period in the rental market, real estate agents are reporting continuing low vacancy rates.
Chris Hanley, principal of Byron Bay First National, which has the largest permanent rent roll in Byron Bay, said they had just four properties on their books.
“The Byron real estate market really hasn't loosened up,” he said.
“It's still very challenging to find good long-term rental accommodation.”
Mr Hanley blames the shortage on the lack of building activity over the past six years.
“There aren't any more bedrooms than there were seven or eight years ago,” he said.
“Everyone wants to live here, but there just isn't anywhere to go.”
Byron Beach Realty property manager Will Green said the Byron Shire rental market was the tightest he had seen in a long time.
He has a waiting list of 15 people, but in the last two months just one new property has come on to the books.