Port Macquarie median rent down five percent in 30 days, among the top five most searched suburbs: rent.com.au

Port Macquarie (postcode 2444), the coastal town north of Sydney, saw median rent drop more than 5.13% to $370 per week for all rental properties advertised in the 30 days up to the first week of February, according to rent.com.au.

The coastal town still made it to the top five of the most-searched regional locations list compiled by rent.com.au, and was also more affordable in terms of renting compared with surrounding suburbs. 

The median rent of surrounding suburbs Fernbank Creek, North Shore, Riverside, Thruster and Lake Innes was $395 per week for the quarter ended September, though there was no data available for the previous 90 days.

The lowest rental for the 30 days was $190 per week for a one-bedroom dwelling, while the maximum was $800 for a five-bedroom place.

The average days on market for all rental properties advertised in Port Macquarie in 90 days till February 8 was 29 days, five days less than the previous quarter. 

There were a total of 130 rental properties advertised in Port Macquarie within the above-mentioned 30 days, up 39 from the previous 30 days. Of the 130, there were 77 houses and 53 apartments.

There are a total of 4,949 rental properties in Port Macquarie, which is 30% of all properties there (ABS, Census Data, 2011). 

Houses make up an overwhelming majority (84.9%) of Port Macquarie, with only 15.1% apartments, according to ABS data. 

Property Observer found a couple of dwellings as examples around the median price range:

A three-bedroom house at 96 Koala Street (above) has a rent of $400 pw.

A three-bedroom unit at 4/131 Bridge Street (above) is available for $380 pw.

The ASX-listed Rent.com.au Ltd achieved a record 615,405 unique visitors to its website in January, followed by more than 610,000 unique visitors in February.

Landlords are able to list their property for free in a limited time offer on rent.com.au.