The value of renting units in Orange has risen a whopping 16 per cent in the past year.
It is the largest increase of any housing type in the Central West according to research by property analyst CoreLogic.
It was also well above the national average.
The just-released figures for property from the 2020-21 financial year show the median price of units in Orange was $327,584.
House rental prices in Orange rose by 13.7 per cent in the same period with the median house sale price at $522,813.
The 'Which regions have seen the highest rent value increases over the year' survey also showed unit rent values rose by 15.8 per cent in Mudgee and 2.7 per cent in Bathurst in 2020-21.
Belle Property Orange principal Peter McCormack said the rental prices of both houses and units in Orange had risen by about 20 per cent in the past year.
"So a property that was $300 [a week] would now be about $360-$380," he said.
Mr McCormack said the biggest increase had occurred in houses and units in the $250-$450 a week market.
On Monday afternoon this week just 14 units, townhouses and villas were available for rent in Orange.
They ranged from a two bedroom unit in Orana Street for $260 a week to $700 for a two bedroom apartment on Canobolas Road.
At the same time there were only eight properties listed as units, villas or townhouses available for sale in Orange.
None of them were below the median price value for the past 12 months.
They ranged from a two bedroom villa on the Mitchell Highway for $345,000 to a three bedroom unit on Glasson Drive which was under offer with a listed price of $639,000.
There were just 43 houses for rent and 126 for sale in Orange as of Monday afternoon.
The report by CoreLogic head of research Australia Eliza Owen found rental values increased by 6.6 per cent across Australia.
The research showed the Central West's rental values rose by the fifth highest level for regional and rural NSW.
It said the median rent for the region was $404 and represented in increase of 10.7 per cent over the year.
All the other regions listed with higher increases in NSW were on the coast.
"Regional Australian rental markets have generally outperformed those across the capital cities, rising 11.3 per cent over the year compared with a 5 per cent rise in capital city rents," she said.
"But some of the highest growth across rent and property values has occurred in lifestyle markets, here remote work may have enabled more 'tree-change' and 'sea-change' movement among Australians in capital cities."
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