Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Perth rents patchy

By Staff Reporter
09 December 2014 | 1 minute read

While the median weekly rent for Perth has remained steady, there have been variances in several sub-regions, according to the peak real estate body.

The Real Estate Institute of Western Australia (REIWA) said Perth’s median metropolitan rents stayed steady at $450 in the three months to November, but have dropped by $20 per week since the same time last year.

“The vacancy rate is sitting at just under four per cent, slightly down from the June quarter but still 49 per cent higher than a year ago,” it said.  

Advertisement
Advertisement

REIWA president David Airey said that while the median rent was steady, there had been price adjustments between houses and units, as well as variance in several sub-regions. 

“The three months to November has seen around one-third of various sub-regions in metropolitan Perth adjusting median rents for houses and units, and mostly downwards,” Mr Airey said.

“The western suburbs remains the most expensive area, with an overall median of $550 per week, but this is down by around $70 on the same time last year, and is a reflection of the downturn in both population growth and jobs in the resources sector.”

The REIWA said the most affordable area remains Armadale, with an overall median rent of $380 per week. Areas that saw the biggest drops in house rents included Serpentine-Jarrahdale (down $15), and Stirling East, Joondalup North, Wanneroo South, Gosnells and Cockburn, all down $10.

Median house rents rose in Vincent (up $33), Rockingham (up $10), and Kwinana, up $5 per week.

For units, decreases were experienced in Vincent (down $28), Perth City, South Perth and Victoria Park, Western Suburbs, Wanneroo Northeast, Wanneroo South, Armadale and Rockingham – all down $10 per week.         

Mr Airey said properties available for rent neared the 6,000 mark during the quarter, but had since surpassed that benchmark, according to fresh figures.

“We are currently sitting at around 6,200 properties with an average time of 33 days for property managers to secure a tenant,” Mr Airey said. 

 

Perth rents patchy
house sizing
lawyersweekly logo

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.