Over the past year, seven suburbs in the Perth area have dominated the list of the ten busiest suburbs in Western Australia among renters. Those included in the lineup experienced lower vacancy rates and higher average rents, according to data from the Real Estate Institute of Western Australia (REIWA).
"The list is also very varied in terms of population. While we expected to see suburbs with more properties in areas such as Baldivis and Canning Vale returning high search volumes, a number of suburbs on the list that ranked well were less than 10,000 residents in the area, "said REIWA President Damian Collins. says
The report shows, however, that areas such as Mandurah, Geraldton, Bunbury, and Kalgoorlie represent a larger urban area, which likely contributed to their popularity among WA tenants.
The most popular suburbs are Mandurah, Rockingham and Baldivis in South Perth.
Geraldton and Bunbury, in the Washington area, followed closely, completing the top five suburbs where research was most prevalent. Joondalup, Scarborough, Kalgoorlie, Ellenbrook and Canning Vale have sealed the list.
The report also revealed that, out of 2018, nine of the ten suburbs on the list had seen a decline in the number of properties for rent in their respective regions. Mandurah, Canning Vale and Bunbury recorded the largest declines.
"Increasing interest in a suburb and decreasing available rents result in increased competition among tenants. While Perth rental prices have been generally stable for some time, some pockets are starting to see prices rise, "said Collins.
Baldivis, Geraldton, Scarborough and Canning Vale also experienced an increase in their median rents over the past year, with rents increasing by $ 10, $ 5, $ 18 and $ 10 respectively.
Homeowners also found that it was faster to find tenants in these areas, with reiwa.com data indicating that nine of the ten suburbs recorded an increase in their average rental durations during the last year.
Canning Vale (39 days) and Joondalup (45 days) recorded the most notable decrease in lease terms, both reduced by 11 days in 201. Follow Baldivis (41 days), Geraldton (57 days) and Scarborough (39 days). closely, each of them 10 days less. Bunbury, for its part, was the only place on the list to not record improvement in average rental time.
"These 10 areas are clearly very attractive to West Aussie tenants. If you are an investor looking to buy, I would recommend that you speak to a real estate agent about the performance of these local markets and available investment opportunities, "Collins said.
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