It’s fair to say that the Perth rental market has been challenging for tenants, especially over the past six to 12 months as rent prices go up combined with record low vacancy rates. However with WA’s hard border finally coming down in a couple of weeks, and the potential of free-er travel around Australia and the world looming, things could be looking up.
At the end of January 2022, reiwa.com had 2,345 properties listed for rent on the site – a 25 per cent increase on the notoriously low month of December, and a promising 9 per cent overall increase from three months ago. Residential vacancy rates are also on the uptick, albeit slowly, rising to 0.9 per cent from the previous month’s record low of 0.7 per cent.
So while things aren’t great, they’ll hopefully be improving in 2022 and as WA’s go-to online portal for rental listings, reiwa.com have sent us some useful data on where new rentals are around Perth at the moment.
Below you’ll find the Perth suburbs with the highest growth in listings for rent between December 2021 and January 2022:
Claremont: Claremont saw a 200% increase in rental listings between December 2021 and January 22, rising from just 8 to 24, although the median weekly rent price is one of Perth’s highest at $838.
Cottesloe: Unsurprisingly Cottesloe’s median weekly rental price is also high ($1000), but they too rose almost 200 per cent, from 10 listings to 29 in January.
Wembley: With a median rental price of $650 per week, Wembley’s rentals increased from 8 to 23 between December and January, up 188 per cent.
Yokine: Dropping down to more manageable-feeling median weekly rental prices ($460), Yokine rose from 12 to 30 rental properties in January, up 150 per cent.
Como: The suburb of Como also saw a 150 per cent increase from 16 to 40 properties at a median weekly rent price of $540.
North Perth: North Perth’s rental property numbers went from 9 to 20 (up 122 per cent), with a similar median rent price of $550 per week.=
Gosnells: With a low median weekly rent price of $350, the eastern suburb of Gosnells went from 11 listed properties to 23 (109 per cent).
And finally Cannington (7 to 14) and Butler (8 to 16) both doubled their rental property offerings with a median rent price of $400 per week, while Carlisle went from 8 to 15 (88 per cent) at a $450 median weekly rental price.
In the market for a rental? Head to reiwa.com now.