The surging of Goulburn house prices will be front and centre during the REINSW 2022 Roadshow on June 21.
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REINSW CEO Tim McKibbin, President Peter Matthews as well as research experts from REA Group and industry insiders will visit Goulburn Workers Club next Tuesday to discuss how, and why, local real estate has evolved and what the future holds.
According to REA Group, in the Goulburn Local Government Area (LGA), the median price of a house increased by 22 per cent over the last 12 months, while units were up 13 per cent.
Rent increases have followed the same trend, up nine per cent in Goulburn versus two per cent in Greater Sydney.
REINSW CEO Tim McKibbin said regional hubs like Goulburn were on a 'knife-edge'.
"Between the pandemic, recent natural disasters, prevailing affordability concerns, a critical lack of rental accommodation and a shortage or properties to buy, many regional markets across New South Wales find themselves on a knife-edge," McKibbin said.
"Local Governments have a major role to play to support new housing supply and give people choice, especially as many Sydneysiders look to establish a new life in the regions."
Regional areas across NSW have felt the surge particularly in recent years, serving as a tail end to an overall trend of rising house and rental prices over the past decade.
Throw in stagnating wages over that time period and it's meant a slow tightening of belts for many people.
Goulburn and Crookwell have both seen asking house prices double according to property analysts SQM Research.
But where Goulburn's weekly rental price only increased by $130 since June 2012, Crookwell's has gone from an enviable $210 to $452.
Further north in the Highlands it's grim reading with the asking price for a house in Moss Vale now pushing Bowral's price tag at $1,486,271, up from $615,868 in 2012.
The below data is based on average weekly asking rent and house prices.
Goulburn
House price: $785,752 (June 2022) vs. $387,072 (June 2012)
Asking rent: $467 (June 2022) vs. $337 (June 2021)
Crookwell
House price: $667,946 (June 2022) vs. $395,746 (June 2012)
Asking rent: $452 (June 2022) vs. $210 (June 2012)
Bowral
House price: $1,618,896 (June 2022) vs. $714,599 (June 2012)
Asking rent: $812 (June 2022) vs. $499 (June 2012)
Mittagong
House price: $1,196,916 (June 2022) vs. $497,267 (June 2012)
Asking rent: $718 (June 2022) vs. $392 (June 2012)
Moss Vale
House price: $1,486,271 (June 2022) vs. $615,868 (June 2012)
Asking rent: $733 (June 2022) vs. $368 (June 2012)
Yass
House price: $849,767 (June 2022) vs. $447,181 (June 2012)
Asking rent: $721 (June 2022) vs. $395 (June 2012)
Queanbeyan
House price: $1,070,014 (June 2022) vs. $578,402 (June 2012)
Asking rent: $772 (June 2022) vs. $475 (June 2012)
Braidwood
House price: $1,136,341 (June 2022) vs. $480,597 (June 2016)*
Asking rent: $668 (June 2022) vs. $349 (June 2016)*
*Earliest data available in the last decade.
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