Bathurst Town Centre has a population of 7,032 people and 3,494 dwellings—42.3% of which are lone person households (single-person households). 50% or more dwellings are rented.
The unemployment rate for Bathurst Town Centre is 5.6%. More than two-thirds of the city’s workforce are employed as professionals, with a grand total of 761 people in that category—which represents 22.8% (761 persons) among 3,348 individuals working overall.
The rental crisis in Bathurst has caused the vacancy rate to dip below 0.6% and rents have increased since 2018 because there is a shortage of properties available for rent. In the past 12 months, demand for rental houses has increased by 75%, while rents have soared 10% and rental units have seen an increase in demand of 33%. At the same time rent prices have risen 13%.
People who live alone and earn between $500-$999 per week make up 21.2% of the workforce; students and “seasonal workers” are also a large market for your product. With inflation and high interest rates making housing costs soar, single-person households will have no choice but to seek more affordable accommodation.
Due to the upcoming construction of a hospital redevelopment project and the Bathurst Integrated Medical Centre that is expected to begin soon, there will be an influx of workers—both temporary and permanent. This will put additional pressure on current rental housing supply and demand.
The population of the region is forecasted to grow by 26.19% by 2041, making it a prime location for residential and commercial investment.
The Valor Group have secured an exclusive opportunity at 14 Russell Street, Gorman Hills NSW 2794
- 10 Single Rooms with Ensuite, Kitchen, Wardrobe and Study
- 4 Double Rooms with Ensuite, Kitchen, Walk-in-Robes and Study
- Walking Distance to Train Station and Bus Stop
- Independently Operated
- Modern Boutique Complex suited for Professionals and Single Person Household Type which represents 26% of the Local Population
- Highly Sought After Asset
Discover more here: https://www.sreg.com.au/
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