Some have recorded 60 per cent growth as city escapees look for remote-working hotspots or local jobs, but not everyone wins.
House rents in some NSW regional towns have skyrocketed by more than 60 per cent in the last five years, leaving many locals despairing of finding affordable accommodation and newcomers stumped by the rapid rise.
Asking rents for houses in Bellbird, in Cessnock in the Hunter region, have risen the most, by 72.7 per cent over the last five years to a median $570 a week. Next came the historic gold rush town of Blayney, near Orange and Bathurst, with a 64.3 per cent rise to $460 a week. “This has been something we’ve been hearing about for the last 18 to 24 months now from local tenant advisory services,” said Jemima Mowbray, the policy and advocacy manager of the Tenants’ Union of NSW. “They’ve been reporting on the pressures and challenges that renters are facing and the human stories behind the statistics.
“There’s quite a lot of change happening around Blayney and more demands for rentals,” said Scott Quirk of Orange Real Estate. “A lot of people came to Orange during the pandemic and remote working, and then some went to Blayney, which is just 35km away and a lot cheaper. Angela Chapman of Troy McKellar Real Estate in Gulgong says Mudgee was the popular area for city-dwellers, and Gulgong was always left behind. “Then the pandemic came, and we thought we were going to lose our jobs, but the phones started ringing, and everyone wanted to buy,” she said.
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