Properties in hot demand as rentals are snapped up across the Macleay

Property manager at Kempsey Stock & Land, Kym Clyma, said the increase in demand has meant less properties are readily available.

"We have found that landlords are opting to sell their investment property to free up some cash and many landlords have also moved into their rental property which means properties up for lease are in short supply," she said.

"Currently we have one property available for lease and on average we will get between 20 and 30 inquiries for a property."

Kempsey Stock & Land manage properties across the shire and Kym said their coastal rentals are very popular.

"Properties up for lease in Crescent Head, South West Rocks and Stuarts Point are in high demand. We've also found houses in more rural areas are becoming more popular as well," she said.

"Unfortunately with an increase in demand there is an increase in rent and we've seen that over the past few months."

This has been a similar story for Elders Real Estate Kempsey. CEO of Elders Lifestyle Group David Gray said they have seen a shift of less investors purchasing properties in the area.

"Owners moving back into their investment properties and less people buying homes as an investment has made the pool a lot smaller," he said.

"We've seen properties in the Kempsey area be filled in a few days and there's a less than one per cent vacancy rate."

David has also noticed the coastal towns are becoming more of a hot spot for renters.

"Crescent Head is very much in demand at the moment but also the demand in Kempsey is at a level that we've never seen before."

The demand for rental properties has seen a price increase across the board for local real estate agents.

"Most of our team are renters themselves so they understand the issue when it comes to price increases for renters. It's all about the supply and demand and if there's more people looking then the prices go up," David said.

"But we always speak to owners and say that a good tenant is better than an extra $20 a week. It really is a juggling act."

The COVID-19 pandemic has caused many people in the city to relocate to more regional areas and David said they have noticed a shift in where people are moving.

"We've seen that people from Sydney are moving to Newcastle, people from Newcastle moving to Port Macquarie and then Port Macquarie residents moving further north to Kempsey," he said.

"A lot more people from Port Macquarie have moved to the Kempsey Shire because the prices are just that bit cheaper."

If the current trends continue into 2021, David said the Mid North Coast will be facing an even higher demand in the months ahead.