https://www.watoday.com.au/national/western-australia/perth-s-ren...

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    https://www.watoday.com.au/national/western-australia/perth-s-rental-prices-the-highest-in-six-years-as-vacancy-rates-continue-to-fall-20210415-p57jns.html

    Note:

    Perth’s vacancy rate continues to fall, at 0.7 per cent in March.

    And with the COVID-19 rental moratorium ending in March, Domain expects the pool of available rentals will plummet by 63 per cent compared to the same time last year.




    Perth rentals are at their highest asking prices in almost six years with the median house costing $430 a week – the biggest yearly increase across the country.

    Domain’s March quarter rent report, released on Thursday, revealed the average house and unit rental prices in Western Australia had both risen by $15 a week during the first quarter of 2021, with units costing on average $365 a week.

    Renters in WA are being left stranded after a surge in rent prices brought on by the end of the COVID-19 rent moratorium.

    Despite the market upswing, renters are yet to feel the squeeze experienced in 2013 during the peak of the mining boom, when the median house rental was $490 and units were $450 a week.

    The biggest increase was in the southern suburb of Manning which had rent jump by $100, or 22 per cent, in one year.


    Hamersley ($63), Bicton ($73), Kensington ($73) and Shelley ($70) also recorded large increases.

    Domain senior research analyst Nicola Powell said Perth rents had risen for three consecutive quarters.

    “Perth has moved from the most affordable capital city to be more expensive than Adelaide. House rents are now on par with Melbourne,” she said.

    Perth’s vacancy rate continues to fall, at 0.7 per cent in March.

    And with the COVID-19 rental moratorium ending in March, Domain expects the pool of available rentals will plummet by 63 per cent compared to the same time last year.


    The rent increases come as WA’s jobless rate tumbled by 1.3 percentage points.

    Almost 33,000 jobs were created in the state during March, or about 1000 a day, but about 4 of every 5 of those were part time - almost certainly for the WA state election.

    The state has also recorded positive interstate migration for the first time since 2013.

 
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