According to the latest report from the Real Estate Institute of Western Australia (REIWA), Busselton outperformed all regional hubs in Western Australia, becoming the fastest rental in the three months leading up to February.
It takes 11 days for a rental property in Busselton to be occupied during this time, nine days faster than in Perth. During the year Busselton & # 39; s rental time decreased by 12 days.
Damian Collins, President of REIWA, said the quick rental lead time was due to the limited supply of rental properties available.
"Real estate investors in the Busselton regional center are finding tenants for their rentals faster than in any other regional center in the state," he said.
Collins said the shortage of rents affecting the entire state of Western Australia has resulted in increased competition among tenants in Busselton, putting upward pressure on its price median rent. In fact, the median weekly rent in Busselton fell from $ 400 to $ 500 last year.
Other regional centers also reported shorter go-to-market days than Perth. The houses of Albany and Bunbury only took 16 days to be occupied.
"Albany's median rental length was shortened by seven days by comparing the three months in February 2021 to the three months in February 2020, while the median rental length in Bunbury was reduced by 16 days comparing those same timeframes, ”Collins said. .
At the suburban level of the Western Australia region, four with the fastest median rental times were located in the southwest region, while three were from the Bunbury regional center.
The 10 regional suburbs with the fastest median rental duration in the three months to February 2021 were Australind (15 days), Eaton (15 days), Bridgetown (16 days), Spencer Park (17 days), Bunbury (21 days)), Newman (23 days), Kalgoorlie (24 days), Bulgarra (26 days), Cable Beach (26 days) and Wandina (29 days).
"The WA area, like Perth, suffers from a shortage of rental housing and needs an influx of investor activity to inject more private rental housing into the market and help house the growing number of renters across the state who are looking for a rental, "Collins said.
Top suburbs:
miller
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Hebersham
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Albion
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toowong
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