Rents in Perth have become significantly more affordable compared to previous peaks, according to the latest report from the Real Estate Institute of Western Australia (REIWA).
The latest report showed that most of Perth's suburbs continue to be some of the most affordable for renters in Australia. In fact, about 235 suburbs reported median rents below their peak prices.
"Our analysis shows that 201 of the 235 suburbs had median rents 10% cheaper than their previous peaks, while 37 of those 201 suburbs were more than 20% cheaper than their previous median rent peaks," said Damian Collins, President of REIWA.
Collins said that despite rising rental prices over the past year, Western Australia remains the most affordable place to stay overall. rent.
"It is very clear that the biggest problem facing the rental market in Western Australia is not affordability, but the housing shortage," he said. he declares.
Collins said it was crucial that investors weren't deterred from buying in WA as the state revises the Residential Tenancies Act.
"To keep rents affordable, property investors must remain an active part of the Western Australian market so that there are enough rentals in the market to meet tenant demand ", did he declare.
The table below shows the 10 suburbs which recorded the largest rent decreases compared to their previous peaks:
Top Suburbs:
bligh park
,
rockville
,
bendigo
,
mount lawley
,
Westmead
Get Help With Your Real Estate Investment
Do you need help finding the right loan for your investment?
When investing in real estate it is important to make sure you have no only from the lowest possible rate, but also have the loan features to suit your needs.
Just fill out a few details below and we will then arrange for a local mortgage broker contacts you and determines the characteristics or types of loans that suit your needs. We will even help you with the papers. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
