Two of the 10 Local Government Areas in NSW most in need of additional rental properties are in the Hastings and Macleay Valley, new research shows.
Wauchope and West Kempsey have been listed as two areas that are experiencing a high rental crisis.
Commissioned by national rental reviews platform Rent Rabbit, the research uses vacancy rates and demographic data to identify the top 20 suburbs most in need of new rental supply, and ranks them based on their median weekly rent expressed as a share of their average weekly household income.
Making the top 10 list are West Kempsey (number 6) and Wauchope (number 7).
Head of Property Management at Harcourts Greater Port Macquarie Kylie King said they have seen an increase in demand for rentals.
"Demand for properties in Wauchope has grown consistently over the last few years," she said.
"Certainly, over the last two years we experienced an influx of people moving into the area, although this has reduced slightly in the last couple of months.
"Demand from locals looking for housing is still relatively high."
The housing market in Wauchope had a vacancy rate in June 2021 of 1 per cent, and 0.5 per cent a year later.
The median weekly rent for Wauchope in June 2021 was $450, and $490 a year later. A 8.9 per cent increase.
"Wauchope housing is mainly houses or duplex style dwellings. In essence, a property that is well presented and maintained in good condition and allows pets tends to be at the top of desirability," Ms King said.
Ms King said the number of available rental properties has reduced slightly, but not dramatically.
"We have seen many investors sell recently to capitalise on recent higher property prices. This is often to owner occupiers, hence reducing the number of properties available for tenants, but there has been new investors entering the market."
RentRabbit co-founder Ben Pretty said the rental crisis is one of the biggest issues facing NSW right now.
"For affluent tenants in more privileged suburbs, they at least have more options in terms of where they can live, especially as many of them are knowledge workers who can work remotely," he said.
"But for the many tenants who have low household incomes and who live in socio-economically disadvantaged areas, they're really struggling right now and have very few options."
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