The latest figures out of PropTrack indicate the rental pressures in Newcastle and The Hunter may be easing.
Newcastle rental prices fell by 3.6% over the three months to December 2022, and in The Hunter they fell by 5.1%.
PropTrack Director of Economic Research Cameron Kusher, says while there's still ways to go, it's a step in the right direction.
"They're still higher than they were 12 months ago. Newcastle rents are up 6% and Hunter rents are up by 4.4%, but we are seeing some other signs, some of the rental pressures which have been really prevalent in the market are starting to alleviate," he said.
"In terms of Newcastle, the number of new listings in December last year compared to the previous December was up 13.5%, and total rental listings were up 17%. In the Hunter, we saw a 16.9% increase in new listings and a 7.5% increase in total listings."
The figures also indicate, while rental vacancy rates in the region have increased, the number of property inquiries has declined.
Mr Kusher said this is good news for locals.
"You've got more stock, but fewer people competing for that stock which is obviously a desperately needed thing, given how much competition and how little stock there has been in the region over the past few years."
