HOUSING RENTAL STATE OF PLAY 2024: Residential rental costs in coastal towns at the mouth of the Clarence River in Sept-Oct 2024

Yamba, NSW
Image: Getty Images

Iluka, NSW
IMAGE: Visit NSW

The small coastal townships of Yamba and Iluka in north-east New South Wales are on opposite sides of the Clarence River as in empties into the Pacific Ocean.

Respectively they have estimated resident populations of 6,467 (382.2 persons per square km & over 4,000 residential dwellings) and 1,793 (139.5 persons per square km & est. 1,313 residential dwellings).

Looking at the rental situation in Yamba using realestate.com.au data for Oct 2023 to Sept 2024:

• Three bedroom house average rental was $590 per week

• Two bedroom unit average rental was $450 per week.

According to NSW Government Rent Check tool using data for postcode 2464 as from 16 Oct 2024:

• That three bedroom house rental cost falls within the $550 - $633 median price range for similar rentals

• That two bedroom unit rental cost falls within the $408 - $495 median price range for similar rentals.

In relation to the est. 49 social housing dwellings in Yamba (ABS 2021), rental prices are understood to be approximately 30-50% lower than the aforementioned weekly private rental prices.

Looking at the rental situation in Iluka using realestate.com.au data for Oct 2023 to Sept 2024:

• Three bedroom house average rental was $460 per week

• Two bedroom unit average rental was $450 per week.

According to NSW Government Rent Check tool using data for postcode 2466 as from 16 Oct 2024:

• That three bedroom house rental cost falls outside the $500 - $525 median price range for similar rentals, being $50 to $75 lower across median price range.

• Available two bedroom unit median price range data is insufficient to calculate a range.

The rental situation in both coastal towns is tight with only est. 358 residential dwellings (1-4 bedrooms) available over the last 12 months in Yamba and very limited residential rental stock available in Iluka.

According to both rental yardsticks, rental properties in these two coastal towns are unaffordable for a single person on unemployment benefits and likely to cost on average est. 70-80% of a single person's disability or age pension.