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“We’ve had a lot more people calling about evictions as rents have gone up so much, and they can’t afford to pay them, and others missing out on a whole range of basic needs, like food, in the battle to keep a roof over their heads. We’ve had a lot having to move further away out of town or move in with family.”
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The crisis varies according to each regional town’s circumstances. In Bellbird, agent Brenden Thomas of Tahlia Thomas Real Estate says the rise in property prices, aligned with increasing interest rates, has meant people are choosing to rent instead, hoping it will be more affordable. Then, that extra demand puts even more pressure on rent levels.
“It’s pretty daunting to try to find a rental property at the moment,” he said. “Rents are coming back a little now, but from an astronomical level. People choose Bellbird as it is cheaper than other suburbs, but that’s pushing rents up more.”
In Blayney, there’s the added complication of the recent Newmont acquisition of Newcrest Mining and its gold mine, with more jobs being advertised, as well as Regis Resources’ proposed open-cut McPhillamys gold mine nearby, said to be about to create 350 jobs in its first phase.
“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.
“So affordability was a big draw, but over time, rents and property prices have both increased as a result, and there hasn’t been a lot of construction, so there isn’t much development going on, and demand has been increasing.”
Gulgong is among the NSW regional towns with the highest rent growth.Credit: iStock
Suffolk Park, just outside Byron, has been a major recipient of the added numbers of people going to the coast for a sea change, and there’s been a marked rise in prices and rents. With so many no longer being able to afford to rent in Byron, Suffolk Park isn’t far away as an alternative.
Then Gulgong in the Central West similarly received an overflow of tree-changers from tree-change favourite Mudgee, 30km to its south.
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.
“So Mudgee got crazy busy, and people started moving out of Mudgee to live here instead. In addition, we had solar and wind farms coming and people moving here to work. Prices started going up and then rents went up too as a result.”
Chapman says there’s still a shortage of houses available to rent, especially as they seem so cheap for those arriving from Sydney.
“But local people are really struggling to afford homes,” she said. “Gulgong is still a pretty quiet, peaceful place that looks like a step back in time – until you see those prices and rents.”
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