Housing solutions for workers moving to Dubbo are falling behind what's needed, according to a raft of analysis detailed by the Real Estate Institute of New South Wales' (REINSW) Orana division.
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Real Estate Institute of New South Wales' (REINSW) Orana division member Bob Berry said Dubbo hasn't "provided sufficient rental accommodation to meet the demands of the growing city, and the increased number of workers coming here."
"It will require a whole of city approach, council will need to lead and they've got to bring the city and industries together, they've got to think about how many jobs there'll be, how much accommodation is available and factor all that in," he said.
"Without planning, this situation will continue on and it won't be great for the city."
Mr Berry said young professionals, who prefer unit styled housing as opposed to more traditional houses, will elect not to pursue opportunities in Dubbo if the supply of appropriate housing can't meet the demand.
"People won't come here, particularly young professionals, if they don't have accommodation that's acceptable to them," Mr Berry said.
Residential rents in the Dubbo area rose to all-time heights by the end of 2020, according to the analysis, but the numbers aren't coming as a shock.
Two bedroom median rent, used as a benchmark, increased by 7.69 per cent throughout the year to a high of $280 per week, while three bedrooms rose 5.71 per cent to $370 and four bedrooms rose 3.61 per cent to $430.
Our members don't recall a year when there was such a pronounced fall in bonds lodged compared to the previous year.
- REINSW Orana's secretary Shayna Chapman
The average rent for all styles of dwellings hit $370 for the year, representing an annual increase of 5.71 per cent, which wasn't a surprising figure, according to REINSW Orana's secretary Shayna Chapman.
"The median rent increases are unsurprising, given that for much of the year COVID has influenced the market, and demand has outstripped supply," Ms Chapman said.
"The tight supply has seen a big reduction in the number of bonds lodged compared to 2019, as tenants remained in their rental property through the lockdown periods, border closures and the uncertainty of COVID."
The biggest drop in lodged bonds was in the four bedroom category, with a fall of 21.62 per cent, which Ms Chapman said represented an unprecedented fall from year to year activity for the region.
"Our members don't recall a year when there was such a pronounced fall in bonds lodged compared to the previous year," Ms Chapman said.
Rental properties in the two bedroom category of housing are still the option that is receiving the most price pressure, with what's being termed as 'critical' under supply for units and flats in comparison to growing demand.
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