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Regional cities where rents have risen the most over the past five years

“We’ve had a lot more people calling about evictions because rents have risen so much and they can’t afford to pay them, and others are missing out on a whole host of basic necessities like food in the fight to keep their homes . a roof over their heads. We have had to move out of town a lot or move in with family.”

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The crisis varies depending on the circumstances of each regional city. In Bellbird, real estate agent Brenden Thomas of Tahlia Thomas Real Estate says the rise in property prices, in line with rising interest rates, has led to people opting to rent in the hope it will be more affordable. This additional demand then puts even more pressure on rental levels.

“It’s quite difficult to find a rental property at the moment,” he says. “Rent prices are now coming back slightly, but from an astronomical level. People choose Bellbird because it is cheaper than other suburbs, but that drives up rents more.”

In Blayney there is the added complication of Newmont’s recent takeover of Newcrest Mining and its gold mine, with more jobs being advertised, as well as Regis Resources’ nearby open-ended McPhillamys gold mine, which is said to be about to create 350 jobs. its first phase.

“There is quite a bit of change happening around Blayney and there is more demand for rental properties,” said Scott Quirk of Orange Real Estate. “A lot of people came to Orange during the pandemic and remote working, and some went to Blayney, which is only 22 miles away and a lot cheaper.

“So the affordability has been a big draw, but over time rents and property prices have both risen as a result, and not much has been built, so there’s not much development going on and demand has increased. ”

Gulgong is one of the regional cities in NSW with the highest rental growth.

Gulgong is one of the regional cities in NSW with the highest rental growth.Credit: iStock

Suffolk Park, just outside Byron, has been a major recipient of the extra numbers of people heading to the seaside for a big change, and there has been a marked increase in prices and rentals. With so many no longer able to afford to rent in Byron, Suffolk Park is not far away as an alternative.

Then Gulgong in the central west similarly received an abundance of tree changers from tree change favorite Mudgee, 30km further south.

Angela Chapman of Troy McKellar Real Estate in Gulgong says Mudgee was the popular area for city residents and Gulgong was always lagging 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.

“So Mudgee got busy and people started moving out of Mudgee to live here. In addition, solar and wind farms were built and people came here to work. Prices started to rise and as a result rents also went up.”

Chapman says there is still a shortage of houses available to rent, especially because they seem so cheap to those coming from Sydney.

“But locals are really struggling to afford houses,” she said. “Gulgong is still a pretty quiet, peaceful place that feels like stepping back in time – until you see those prices and rentals.”