Regional NSW continues to enjoy a boom in popularity – and that's pushing up rents
Some renters are forced to live with friends or move further away from their community.Advertisement
These strong rental increases come amid a two-year tree- and sea-change trend driven by city slickers who can work remotely in regional NSW with bigger budgets for housing. “We’ll see more people fall into rental stress. It does make lower-income households extremely vulnerable.” Rawnsley said while priced-out workers in a major city would typically move to the next suburb to rent, regional workers have to move to the next town, which can often be hours away.
“When we send a property live, we start to get applications within 15 minutes. That means we haven’t even advertised an open home, and we get the applications flowing within 15 minutes,” Davis said. “We had a lot of people fleeing from Sydney and Melbourne. That’s what sparked it. We had a lot of demand and not a lot of stock to keep up with that demand and as result prices went through the roof.”
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