Huge rent rise fears refuted

REPORTS of rising rents in regional cities like Dubbo have been refuted by the Real Estate Institute of NSW (REINSW) Orana Division.

A recent article from Propertyology identified 58 cities, including Dubbo, where rents for a standard house were likely to rise by at least $5000 this year.

However, that’s simply not the case according to Laura Shooter, spokeswoman for the REINSW Orana Division.

“In the rolling year to September 2021, figures from rental bond lodgements show that increases for the year in the median rent ranged from $17 per week for a two-bedroom dwelling, to $60 for a four-bedroom,” she said.

“This period covered the 12 months of some of the worst of the COVID-19 wave locking up the community, and the recent lowest vacancy rate in Dubbo.”

Dubbo has 4520 rental bonds lodged at the September quarter, not “roughly 7000 rental homes”, as Propertyology’s Simon Pressley suggested.

“Over 10 years from 2011 to 2021, the average annual increase in median rents in Dubbo ranged from $12 per week for two and three-bedrooms; $13.70 per week for four-bedrooms; and $14.50 per week for one-bedroom,” Ms Shooter said.

“Rents will respond to supply and demand, but tenants only have a certain budget for rent and there is no ‘quick fix’ in bringing new housing stock into the rental market.”

In a move designed to help the building industry speed up development, the NSW Government has extended construction hours to include weekends, with noise restrictions in place.

Construction and demolition works can now be carried out Saturdays between 8am and 5pm, and on Sundays from 9am to 5pm.

However, construction work done on Sundays cannot include noisy demolition work that exceeds a certain noise and vibration threshold and limits the use of power tools or playing music from radios or other electronic devices by those on site.

No construction work is permitted on public holidays.

Dubbo mayor Mathew Dickerson said the extension to construction hours would be in place until March 31.

This extension will be in place until 31 March 2022.

“It will greatly assist in keeping the local construction industry moving and speed up development,” he said.

“One aspect of this policy is allowing housing development to continue seven days a week.

“The migration of people into regional NSW including our LGA is well documented, and the housing shortage is no secret.

“Getting more homes built is a focus for our region and this will help to speed up the process.

“Development is a sign of a strong and growing economy and having busy and varied construction sites operating seven days a week across the region is a positive sign of a busy and versatile community.”

He added Dubbo Regional Council would monitor and respond to any concerns about noise complaints until the order expired.