Rental cost: Central West weekly rents are going up

GOING UP: How does your weekly rent compare to your town's average? Check out the latest Domain Rental Report. Photo: FILE
GOING UP: How does your weekly rent compare to your town's average? Check out the latest Domain Rental Report. Photo: FILE

THE cost of renting a home in some Central West locations may have stabilised, but for others it's on the way up.

The latest Domain Rental Report for the December 2019 quarter lists five locations in this region and in the past year the cost to rent a home are rising in three of them.

Orange has topped the list, for the second December quarter in a row, as having the most expensive median weekly rents for a house at $380.

Dubbo is among the other locations to experience an increased cost for renters, with costs up be 2.9 per cent, from $340 to $350 a week.

Cowra also saw prices rise, with median weekly rental costs jumping by 7.0 per cent, from $250 to $268.

Rental costs in Bathurst and the Hilltops region, however, have stabilised and did not experience a price rise when comparing the two quarters.

The median rent for a home in Bathurst is $360, while the cost in the Hilltops is $270.

Analysing the data also shows that unit renters in two Central West locations have experienced an increase in how much they need to pay their real estate agent each week.

In Orange costs jumped by 8.7 per cent, from $258 a week to $280; while in Dubbo they went up by 4.0 per cent from $250 to $260.

Weekly rents in two locations dropped, including in Bathurst ($255 down to $250), Cowra ($185 to $175) and Dubbo.

Hilltops' median rental costs for units has stabilised and is $220 a week.

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This story More money needed to rent homes, units in region first appeared on Daily Liberal.