The effects of reduced rental stock are definitely proving positive and providing great opportunities for both sides of the fence. Increases in rents due to the increased demand is paying off nicely for those with investment properties, while other areas showing declines are proving opportune for renters who thought they were previously priced out of that market.
Suburbs with the biggest rent increases
Mount Claremont | $800 median weekly price | 35% annual growth
Trigg | $650 median weekly price | 18% annual growth
Dalkeith | $925 median weekly price | 16% annual growth
East Fremantle | $600 median weekly price | 16% annual growth
Osborne Park | $355 median weekly price | 15% annual growth
Bicton | $500 median weekly price | 14% annual growth
Booragoon | $470 median weekly price | 13% annual growth
Alfred Cove | $498 median weekly price | 13% annual growth
Madora Bay | $395 median weekly price | 13% annual growth
Joondana | $450 median weekly price | 13% annual growth
Suburbs with the biggest rent decreases
City Beach | $750 median weekly price | -12% annual growth
Ardross | $500 median weekly price | -9% annual growth
Dudley Park | $310 median weekly price | -9% annual growth
White Gum Valley | $475 median weekly price | -9% annual growth
Kalamunda | $358 median weekly price | -8% annual growth
Hillarys | $500 median weekly price | -8% annual growth
Carine | $460 median weekly price | -8% annual growth
West Leederville | $580 median weekly price | -7% annual growth
Murdoch | $400 median weekly price | -7% annual growth
Leeming | $420 median weekly price | -7% annual growth
For those currently considering investing, the time might just be right for you. The opportunity to purchase a rental property while property prices are low and demand for rentals are high has become very apparent, as you’re almost guaranteed to lock in a tenant fast.
Make your move into investment properties here.
Source: https://reiwa.com.au/information/renters/the-perth-suburbs-with-the-biggest-rise-and-fall-in-rents/?utm_campaign=reiwa.com%20newsletter&utm_medium=email&utm_source=pardot