Rental prices in Gunnedah’s surrounding villages are expected to increase by almost four per cent by January next year.
The latest data provided by real estate analysts Suburbtrends show the median rent for houses today in the villages of Curlewis, Boggabri and Mullaley was about $370.
That figure was forecast to rise by 3.8 per cent at the start of 2024 to $384 – a difference of $14 per week.
In the Gunnedah township, the increase was just 1.3 per cent where the average of $450 was expected to rise to $456 by January.
Although challenging for those struggling to meet rent payments, the Gunnedah region increases are small fry compared to the 20 per cent expected in some parts of Sydney.
The rental price increases follow a further tightening of housing availability as mortgage costs rise in line with high interest rates.
Coinciding with this week’s Homelessness Week (August 7-13), the rental squeeze comes as a coalition of more than 80 organisations across Australia urge governments to act swiftly on rental reform.
In a joint submission to the Senate’s rental crisis inquiry, a range of organisations are calling for fair limits on rent increases, ending no-cause evictions, and improving energy efficiency in homes. The group is also calling on federal, state and territory governments to aim for at least 10 per cent of all dwellings to be social housing.
National Shelter CEO Emma Greenhalgh described it as a pivotal time for government reform in the sector.
“This is a watershed moment in Australian housing policy for meaningful rental reform by the commonwealth and state governments to make renting a much better experience for tenants,” she said.
“Renting will be a lifelong tenure for many Australians, and we need to ensure that the homes they live in are affordable, secure, and healthy.”
The NSW government said it has introduced new measures to assist those at risk of homelessness due to high rents including auditing government land to identify options for more housing, freezing the sale of public housing and working with our Commonwealth partners to deliver the much needed Social Housing Accelerator payment. For the next 12 months, people in temporary accommodation also won’t need to complete a rental diary to demonstrate they are actively looking for housing. The government said this will allow time for a thorough review and assessment of the process.To order photos from this page click here