NSW’s Tamworth median rent fell more than 6 percent in 30 days, average rate on market up: rent.com.au

NSW’s Tamworth median rent fell more than 6 percent in 30 days, average rate on market up: rent.com.au
NSW’s Tamworth median rent fell more than 6 percent in 30 days, average rate on market up: rent.com.au

The regional centre of Tamworth (postcode 2340), also known as the country music capital of Australia, figures on the list of most searched suburbs by rent.com.au for 2015.

The median rental for all rental properties advertised in Tamworth in the 30 days to February was $300 per week, a significant 6.25 percent or $20 lower than the previous quarter, according to rent.com.au.

This was also lower than the median of $315 per week of surrounding suburbs, which comprise East Tamworth, North Tamworth, South Tamworth, Taming and West Tamworth. 

A look at rental pricing trends also shows that median weekly rents for both houses and units haven’t had any spikes or sharp falls in six-months from August 15 to January 16.

The average days on market for all rental properties advertised in Tamworth within the monitored 90 day period also fell by nine days to 29 days from the previous quarter.

There was a total of 151 rental properties advertised in Tamworth within the last 30 days, a jump of 41 from the previous 30 days. Out of these there were 93 houses and 58 apartments. 

The dwelling composition of postcode 2340 is 63.5 percent houses and 36.5 percent apartments, according to ABS data.

The rents ranged from $150 for a one-bedroom dwelling to $515 for a five-bedroom place in the 30-day period.

There are a total of 31 rental properties in Tamworth, 59.6 percent of all properties in Tamworth (ABS, Census Data, 2011).

Property Observer showcases two examples around the median rental price from rent.com.au:

NSW’s Tamworth median rent fell more than 6 percent in 30 days, average rate on market up: rent.com.au

  1. A three-bedroom house at 28 Hercules Street (above) is up for rent at $310 per week.
  2. A three-bedroom house on 23 Warren Street (below) is available for $295 per week.

NSW’s Tamworth median rent fell more than 6 percent in 30 days, average rate on market up: rent.com.au

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

Tags: 
Property market Tamworth

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