Regional NSW rents rise as tenants seek affordable alternatives

Rental prices across most regional areas of New South Wales have increased over the past year, according to the latest Domain Rent Report. The median asking rent for a house in regional NSW reached $640 per week during the September quarter, representing a 4.9 per cent increase compared to the previous year.

Smaller towns experienced the most significant spikes as tenants priced out of major hubs seek more affordable options. The Berrigan Shire saw the highest rise at 18.5 per cent, followed by Bellingen at 18.2 per cent. Other notable increases occurred in the Liverpool Plains Shire and the Moree Plains Shire.

Factors contributing to these rises include strong agricultural seasons increasing demand for worker housing, an inflow of new residents, and limited housing supply. While rent growth has slowed recently, economists note that affordability constraints are becoming increasingly pressing due to substantial increases over the last five years.