New research commissioned by RentRabbit.com.au has found the top 20 rental markets in New South Wales that are desperate for more stock.
The quarterly RentRabbit.com.au Rental Crisis Report identifies the top 20 suburbs in New South Wales where tenants desperately need more rental accommodation to come onto the market, because the suburbs:
- Have incredibly low vacancy rates
- Have low average weekly household incomes
- Are below-average in terms of socio-economic status
The research began by analysing every rental house market in New South Wales, before filtering out suburbs that:
- Contained more than three vacant rental properties
- Had a vacancy rate above 1.5%
- Were above-average in terms of socio-economic status
That left a small list of New South Wales suburbs. To establish a top 20 ranking, these suburbs were then ranked based on their average weekly household income (from lowest to highest).
All the suburbs were located outside Sydney. Most had a vacancy rate under 1%, while some had a vacancy rate of 0%.
(When a suburb has a vacancy rate of 0%, that doesn’t mean the suburb literally has no vacant rental properties. Rental properties are regarded as ‘officially’ vacant when they’ve been on the market for 21 days or more. When a suburb has a vacancy rate of 0%, it means all rental properties are being filled in less than 21 days of being listed for rent.)
RentRabbit.com.au co-founder Ben Pretty said a lot of tenants are facing desperate conditions right now.
“Many renters in New South Wales are being faced with a triple whammy – they live in socio-economically disadvantaged areas, they have low household incomes and it’s incredibly hard for them to find rental accommodation,” he said.
“Some of these renters are living in suburbs that have a vacancy rate of 0%, which means rental properties are being snapped up the moment they become vacant. Unsurprisingly, in the vast majority of these suburbs, rents have increased over the past year, often by double-digit percentages.
“The RentRabbit.com.au Rental Crisis Report is designed to highlight the rental crisis facing significant numbers of people. Yes, it really is a crisis. For the sake of renters living in those suburbs, we hope that more rental stock comes onto the market soon.”
Top 20 Ranking
| Rank | Suburb | Postcode | Vacancy rate (1 year ago) | Vacancy rate (now) | Average weekly household income |
| 1 | Batemans Bay | 2536 | 1.7% | 0.0%* | $703 |
| 2 | Laurieton | 2443 | 0.7% | 0.7% | $716 |
| 3 | Nambucca Heads | 2447 | 0.4% | 0.4% | $735 |
| 4 | Tuncurry | 2428 | 1.5% | 0.4% | $750 |
| 5 | West Kempsey | 2440 | 0.3% | 0.3% | $761 |
| 6 | Narooma | 2546 | 0.0%* | 0.0%* | $777 |
| 7 | South Grafton | 2460 | 1.1% | 0.3% | $801 |
| 8 | Kyogle | 2474 | 0.0%* | 0.0%* | $814 |
| 9 | Maclean | 2463 | 2.2% | 0.5% | $824 |
| 10 | Lismore | 2480 | 0.9% | 0.6% | $838 |
| 11 | Bermagui | 2546 | 0.0%* | 0.0%* | $843 |
| 12 | Eden | 2551 | 0.0%* | 0.0%* | $852 |
| 13 | Warilla | 2528 | 0.6% | 0.6% | $854 |
| 14 | West Tamworth | 2340 | 0.0%* | 0.0%* | $861 |
| 15 | Huskisson | 2540 | 1.1% | 1.1% | $864 |
| 16 | Moruya | 2537 | 0.8% | 0.8% | $873 |
| 17 | Swansea | 2281 | 0.3% | 0.3% | $874 |
| 18 | Ashmont | 2650 | 0.9% | 0.6% | $876 |
| 19 | Tocumwal | 2714 | 1.0% | 1.0% | $888 |
| 20 | Tuross Head | 2537 | 0.0%* | 0.0%* | $893 |
Key stats on the top 20 suburbs
1. The house market of Batemans Bay (South Coast)
| Vacancy rate – March 2021 | 1.7% |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | -1.7 percentage points |
| Median weekly rent – March 2021 | $420 |
| Median weekly rent – March 2022 | $410 |
| Median weekly rent – change | -2.4% |
| Average weekly household income | $703 |
| SEIFA score | 1 |
2. The house market of Laurieton (Port Macquarie)
| Vacancy rate – March 2021 | 0.7% |
| Vacancy rate – March 2022 | 0.7% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $375 |
| Median weekly rent – March 2022 | $420 |
| Median weekly rent – change | 12.0% |
| Average weekly household income | $716 |
| SEIFA score | 1 |
3. The house market of Nambucca Heads (Kempsey – Nambucca)
| Vacancy rate – March 2021 | 0.4% |
| Vacancy rate – March 2022 | 0.4% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $390 |
| Median weekly rent – March 2022 | $450 |
| Median weekly rent – change | 15.4% |
| Average weekly household income | $735 |
| SEIFA score | 1 |
4. The house market of Tuncurry (Great Lakes)
| Vacancy rate – March 2021 | 1.5% |
| Vacancy rate – March 2022 | 0.4% |
| Vacancy rate – change | -1.1 percentage points |
| Median weekly rent – March 2021 | $460 |
| Median weekly rent – March 2022 | $480 |
| Median weekly rent – change | 4.3% |
| Average weekly household income | $750 |
| SEIFA score | 1 |
5. The house market of West Kempsey (Kempsey – Nambucca)
| Vacancy rate – March 2021 | 0.3% |
| Vacancy rate – March 2022 | 0.3% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $350 |
| Median weekly rent – March 2022 | $380 |
| Median weekly rent – change | 8.6% |
| Average weekly household income | $761 |
| SEIFA score | 1 |
6. The house market of Narooma (South Coast)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $420 |
| Median weekly rent – March 2022 | $475 |
| Median weekly rent – change | 13.1% |
| Average weekly household income | $777 |
| SEIFA score | 2 |
7. The house market of South Grafton (Clarence Valley)
| Vacancy rate – March 2021 | 1.1% |
| Vacancy rate – March 2022 | 0.3% |
| Vacancy rate – change | -0.8 percentage points |
| Median weekly rent – March 2021 | $350 |
| Median weekly rent – March 2022 | $380 |
| Median weekly rent – change | 8.6% |
| Average weekly household income | $801 |
| SEIFA score | 1 |
8. The house market of Kyogle (Richmond Valley – Hinterland)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $310 |
| Median weekly rent – March 2022 | $380 |
| Median weekly rent – change | 22.6% |
| Average weekly household income | $814 |
| SEIFA score | 1 |
9. The house market of Maclean (Clarence Valley)
| Vacancy rate – March 2021 | 2.2% |
| Vacancy rate – March 2022 | 0.5% |
| Vacancy rate – change | -1.7 percentage points |
| Median weekly rent – March 2021 | $395 |
| Median weekly rent – March 2022 | $450 |
| Median weekly rent – change | 13.9% |
| Average weekly household income | $824 |
| SEIFA score | 1 |
10. The house market of Lismore (Richmond Valley – Hinterland)
| Vacancy rate – March 2021 | 0.9% |
| Vacancy rate – March 2022 | 0.6% |
| Vacancy rate – change | -0.3 percentage points |
| Median weekly rent – March 2021 | $385 |
| Median weekly rent – March 2022 | $450 |
| Median weekly rent – change | 16.9% |
| Average weekly household income | $838 |
| SEIFA score | 1 |
11. The house market of Bermagui (South Coast)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $400 |
| Median weekly rent – March 2022 | $420 |
| Median weekly rent – change | 5.0% |
| Average weekly household income | $843 |
| SEIFA score | 2 |
12. The house market of Eden (South Coast)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $360 |
| Median weekly rent – March 2022 | $450 |
| Median weekly rent – change | 25.0% |
| Average weekly household income | $852 |
| SEIFA score | 1 |
13. The house market of Warilla (Kiama – Shellharbour)
| Vacancy rate – March 2021 | 0.6% |
| Vacancy rate – March 2022 | 0.6% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $450 |
| Median weekly rent – March 2022 | $460 |
| Median weekly rent – change | 2.2% |
| Average weekly household income | $854 |
| SEIFA score | 1 |
14. The house market of West Tamworth (Tamworth – Gunnedah)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $330 |
| Median weekly rent – March 2022 | $350 |
| Median weekly rent – change | 6.1% |
| Average weekly household income | $861 |
| SEIFA score | 1 |
15. The house market of Huskisson (Shoalhaven)
| Vacancy rate – March 2021 | 1.1% |
| Vacancy rate – March 2022 | 1.1% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $420 |
| Median weekly rent – March 2022 | $480 |
| Median weekly rent – change | 14.3% |
| Average weekly household income | $864 |
| SEIFA score | 4 |
16. The house market of Moruya (South Coast)
| Vacancy rate – March 2021 | 0.8% |
| Vacancy rate – March 2022 | 0.8% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $400 |
| Median weekly rent – March 2022 | $480 |
| Median weekly rent – change | 20.0% |
| Average weekly household income | $873 |
| SEIFA score | 2 |
17. The house market of Swansea (Lake Macquarie – East)
| Vacancy rate – March 2021 | 0.3% |
| Vacancy rate – March 2022 | 0.3% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $420 |
| Median weekly rent – March 2022 | $550 |
| Median weekly rent – change | 31.0% |
| Average weekly household income | $874 |
| SEIFA score | 1 |
18. The house market of Ashmont (Wagga Wagga)
| Vacancy rate – March 2021 | 0.9% |
| Vacancy rate – March 2022 | 0.6% |
| Vacancy rate – change | -0.3 percentage points |
| Median weekly rent – March 2021 | $250 |
| Median weekly rent – March 2022 | $280 |
| Median weekly rent – change | 12.0% |
| Average weekly household income | $876 |
| SEIFA score | 1 |
19. The house market of Tocumwal (Upper Murray exc. Albury)
| Vacancy rate – March 2021 | 1.0% |
| Vacancy rate – March 2022 | 1.0% |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $300 |
| Median weekly rent – March 2022 | $340 |
| Median weekly rent – change | 13.3% |
| Average weekly household income | $888 |
| SEIFA score | 2 |
20. The house market of Tuross Head (South Coast)
| Vacancy rate – March 2021 | 0.0%* |
| Vacancy rate – March 2022 | 0.0%* |
| Vacancy rate – change | 0.0 percentage points |
| Median weekly rent – March 2021 | $400 |
| Median weekly rent – March 2022 | $420 |
| Median weekly rent – change | 5.0% |
| Average weekly household income | $893 |
| SEIFA score | 3 |
