Real Estate

 

Orange has a very diverse economy and this is underpinned by a bouyant and diverse residential housing market. In recent times, in order to match population growth, Orange City Council has approved a number of subdivisions totalling around 1,850 lots.  This includes the Shiralee Village subdivision to the south of Orange which is now coming on line. Orange City Council approves around 400 Development Applications each year and over 300 of these are for residential housing.

 

Orange offers an array of housing types and prices. These range from the single bedroom unit to sprawling 5 plus bedroom houses on vineyards or grazing properties. Your new house could be in the CBD, a rural/residential subdivision, an outer suburb or a quiet village, all within 20 minutes of the main street of Orange.

 

The Orange region experienced extraordinary growth through construction projects from 2009 to 2012. This growth saw a lot of people relocate to Orange, taking up all available accomodation and pushing the prices up far beyond other comparable regional cities. With the completion of these projects, and the residential construction sector now catching up on the backlog of construction, the rental and sales prices have returned to more sustainable levels that allows both investors and homebuyers invest soundly in the market.

 

The average rental proice for Orange and other regional towns for the three months ending 30 June 2015 were:

NSW Housing Additional Rent Tables Report 112 All Dwelling Types
Location 1 bed/week 2 bed/week 3 bed/week 4+ bed/week
Orange $200 $250 $300 $380
Bathurst $185 $250 $300 $385
Dubbo $230 $250 $320 $395
Blayney - - $255 $310
Cabonne - - $238 $300

 

The median sales price for the same locations for the 3 months ending 31 March 2015 were:

NSW Housing Additional Sales Tables Report 112

Location Median Sales Price
Orange $324,000
Bathurst $345,000
Dubbo $317,000
Blayney $290,000
Cabonne $-