The real estate market in Dubbo may be thriving through COVID-19 according to agents, but the 'lack of supply for those looking to rent' means securing a place to live in temporarily may come as a challenge for some.
Bob Berry Real Estate agent Karen Chant said the number of available properties for lease in Dubbo is, as at Friday afternoon, sitting around 80 to 90, which is down from the 200 plus vacancies that had been available at the start of the year.
"This is reflective of Dubbo's current low one per cent residential vacancy rate," Mrs Chant said.
Resident and renter Cody Maree Owens-Richardson said one reoccurring issue she has been experiencing with rentals in Dubbo is the lack of affordable options that meet her and her families needs.
The prices are either too high or the houses aren't big enough...Mrs Owens-Richardson
"The prices are either too high or the houses aren't big enough," Mrs Owens-Richardson said.
Mrs Owens-Richardson said her and her family have been renting for nearly seven-years, and each time they needed to find somewhere new, it took them months to find one.
"We looked at an enormous amount of houses that were in our price range three years ago," she said.
"We had been knocked back for a lot of houses and had only been approved for one which is the one we took.
"We are now on the hunt again for another house.
"We have looked at five to six houses already and none of them are big enough and are fairly well out of our price range.
"We are a big family of six, plus a dog, so the space and price needs to be right for us," she said.
Realestateinvestar data suggests the average median price for rentals is $350 a week for houses and townhouses with the median rent for a unit in Dubbo sitting at $250 a week while Realestate.com states the median property price for a two bedroom house in Dubbo is $280 a week, $345 a week for a three bedroom house and $410 a week for a four bedroom house.
Matthew Ward from Aspect Buyers Agency said the pricing in Dubbo is exceptionally affordable and one of the cheapest in regional NSW.
"Dubbo's cheaper than both Orange and Bathurst," he said.
Mr Ward agrees however, that the high demand for the Dubbo real estate market does mean there is a shortage of available properties for rent.
Mrs Owens-Richardson, who would require a family-friendly house with three or more bedrooms, said the prices she has experienced when looking for places to rent in Dubbo have been around the $500 mark.
"I would like to know who can pay over $500 a week for rent on today's wages and salaries," she said.
According to propertyvalue.com 40.70 per cent of Dubbo's occupants are couples with children and 32.70 per cent of the cities population are renters.
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