Australia's Regional Rent Markets Soared
Kanebridge News
Share Button

Australia’s Regional Rent Markets Soared

New data points to a rapid ‘tightening’ outside of capital cities.

By Terry Christodoulou
Wed, May 26, 2021Grey Clock < 1 min

Rent in regional markets has increased at almost three times the rate of capital city markets in the past 12 months.

That’s according to the Corelogic Hedonic rental value index, which tracks the combined value of rent estimates for all dwelling types. The index points out that all dwelling types increased 9.6% for regional rents, while capital city markets increased 3.3%.

“Of the 25 regions analysed, total available rent listings have, on average, halved during the year,” said Corelogic head of research, Eliza Owen.

“Across these regions, the average time a rental property spent on the market has declined from 25 days in the three months to April 2020 to 17 days during April 2021.”

According to Owen, factors that influenced the tightening of the regional rent market included less people leaving the regions – due to COVID-19, an influx of people moving to the regions, boosted domestic tourism markets and rising property values.

“Creating more affordable housing in regional Australia and major cities could ease rental conditions,” added Owen.

“Having well dispersed affordable housing options can also serve to restrict internal migration based on affordability constraints.”

MOST POPULAR

Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories
By Robyn Willis
Fri, Aug 5, 2022 2 min

When people talk about making a seachange, chances are this is the kind of property on the NSW South Coast that they have in mind.

Open for inspection for the first time this Saturday, 24 Point Street Bulli offers rare absolute beachfront, with never-to-be-built-out north facing views of the ocean. Located on the tip of Sandon Point, this two-storey property is a surfer’s dream with one of Australia’s most iconic surf breaks just beyond the back wall.

On the lower floor at street level, there are three bedrooms and two bathrooms, including a family bathroom and an ensuite in the master suite. A fourth bedroom is on the upper floor, along with the main living area, and is serviced by its own bathroom. 

While this would make a spectacular holiday home, it is well equipped for day-to-day living, with a spacious gourmet kitchen and butler’s pantry set into the articulated open plan living area on the first floor. A separate media room to the street side of the property on this level provides additional living space. 

Every aspect of this property has been considered to take in the light and views, with high ceilings internally and spacious, north facing decks on both levels to take in views of rolling waves. If the pull of the ocean is irresistible, it’s just a 100m walk to feel the sand between your toes.

The house is complemented by a Mediterranean, coastal-style garden, while the garage has room for a workshop and two car spaces.

An easy walk to Bulli village, the property is a 20 minute drive from the major hub of Wollongong and just over an hour to Sydney.

 

Open: Saturday August 6 2pm-3pm Auction: Saturday September 3 Price guide: N/A but expected to exceed $5.3m paid in March for 1 Alroy Street 

Contact: McGrath Thirroul – Vanessa Denison-Pender, 0488 443 174