Rental prices in Dubbo have increase an average of four per cent in 12 months, according to new data.
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Figures released from Housing NSW, show in the 12 months to June 2023, the median rent for two, three and four bedroom homes increased.
The biggest jump was for four bedroom houses, which rose by eight per cent. The median is now $540.
The weekly cost to rent a three bedroom house in Dubbo increased by 4.24 per cent to a median of $430.
Two bedroom rentals increased by 6.06 per cent. The median increased to $350.
One bedroom homes saw a decrease in rent. The price went down by 0.92 per cent to bring the median price to $270.
Real Estate Institute - Orana Division representative Fiona Gibbs said the standout from the figures was the change between 2023 and 2022.
In the 12 months to June 2022 the average for rental increases in Dubbo was 12.6 per cent.
However, she said it was not a surprise.
"We have been experiencing a levelling of the market in the recent months and the numbers are now reflecting what we have been seeing in the market," Ms Gibbs said.
It's good news for Dubbo tenants. As well as the slowing of price increases, the availability of houses for rent has also risen.
The Housing NSW data shows there's an extra 130 rental bonds in the 12 months to June when compared to the previous year.
"With a slight increase in supply and the slowing of rental increases, tenants will hopefully experience the slowing of rent increases flow through to their rental prices," Ms Gibbs said.
The Dubbo property manager said it was also good news for investors as the rental market remained strong.
"All markets have ups and downs and with a median house price in Dubbo of $540,000 regional NSW is still an option well worth considering for investors," she said.
Rentals in Bathurst saw a bigger increase than Dubbo.
In Bathurst, the median for one bedroom rentals increased by eight per cent to a median of $270, two bedrooms increased by 10.29 per cent to $375, four bedrooms increased by 4.65 per cent to $450 and four bedrooms rose by 9.8 per cent to $560.
Orange saw increases across one, two and four bedrooms. However, the median cost for a three bedroom rental decreased.
One bedroom rentals rose by 9.68 per cent to $340, two bedrooms by 7.69 per cent to $420 and four bedrooms by 4.24 per cent to $615.
Three bedroom rentals decreased by four per cent to a median of $480.
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