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Perth’s top 10 most affordable
costal suburbs to rent Extract from REIWA.com.au | 17th September, 2019
Asset Management Newsletter
October 2019
THIS ISSUE
Perth’s TOP 10 most affordable coastal
suburbs to rent ▪
The latest Perth Rental Market Snapshot from
REIWA.com.au ▪
The Next Level of Property Management…
COMING SOON! ▪
Rental affordability hits 11 year high
▪
Direct Link to the latest SCOOP Collection eBook
Asset Management Newsletter | October 2019 1
The REIWA President said, as our state is currently the most
affordable place to rent in Australia, there is no better time for tenants
to live in a home that suits their lifestyle preferences.
“With coastal suburbs in high demand leading into warmer months,
it is pleasing to see that it is now even more affordable to live in
these desired locations, especially compared to the east coast
which is unheard of for tenants to be able to rent a house in a
coastal suburb for less than $450 per week,”
18 Norfolk Street, Fremantle WA 6160
www.ScoopProperty.com.au
T: 08 9432 7555 F: 08 9432 7575
SUBURB MEDIAN RENT PRICE
(PER WEEK)
1. Shoalwater
2. Mandurah
3. Falcon
4. Butler
5. Eglington
6. Merriwa
7. Ridgewood
8. Rockingham
9. Safety Bay
10. Silver Sands
$250
$270
$290
$300
$300
$300
$300
$300
$300
$300
Asset Management Newsletter | October 2019 2
Perth Rental Market Snapshot REIWA members reported there were 6,343 properties for rent in Perth
at the end of this week, which is two per cent less than last week.
This week's rental listings figure is six per cent lower than levels seen
four weeks ago and are 17 per cent lower than levels seen a year ago.
Properties Listed for Rent Week Ending 22nd September, 2019
Currently: 6,482
4 Weeks Ago: 6,812
Last Year: 7,805
Diane Da Luz Managing Director
0433 205 227 9432 7555 diane@ScoopProperty.com.au
Reiwa.com data revealed that the
top 10 most affordable coastal
suburbs were all under $300 per
week with Shoalwater, Mandurah,
Falcon, Butler and Eglinton leading
the top five.
“Topping the list is Shoalwater
which has a median rent price of
only $250 per week and is $24 less
than a year ago. Located just
metres away from the Shoalwater
Marine Park, it is no wonder why
August reiwa.com data saw
rental properties being snapped
up on an average of only 17
days.”
Of the 10 suburbs that made the
reiwa.com list, six were located in
the south of Perth, within a few
kilometres from one another.
The REIWA President went on to say
the south metropolitan area held a
lot of opportunity for renters who
wanted to live close to the coast, yet
only a train ride away from the city.
“The median price in suburbs like
Rockingham, Safety Bay and
Silver Sands is hovering around
the $300 mark, which is notably
lower than the Perth median
price per week of $360,”
Perth’s top 10 most affordable
costal suburbs to rent Extract from REIWA.com.au | 17th September, 2019
While Cottesloe and Fremantle do
not fall into the most affordable
suburbs in the Perth coastal area,
their median rent of $578 and $420
per week is still more affordable than
St Kilda or Bondi Beach which has a
median of $650 and $1,325 per
week.
“It won’t always be this way,
so I advise those looking for their
next rental property to act
sooner rather than later if they
are wanting to secure an
affordable home close to an
iconic WA coastal suburb.”
Asset Management Newsletter | October 2019 3
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Get up to do date with all the latest Residential and
Commercial properties available for both Sale and Lease,
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Asset Management Newsletter | October 2019 4
Rental affordability hits 11 year high Extract from REIWA.com | 4th September, 2019
reiwa.com data shows rent prices
remain stable in Perth, with the
overall median rent sitting at $350
per week during July.
“House and unit rents also
recorded no change, holding
at $360 and $330 per week
respectively throughout the
month.
“There were 23 per cent of
suburbs in the Perth region that
saw their median rent price
increase, with three of the top 10
suburbs which saw the highest
increase were from the luxury
market, including Subiaco,
Nedlands and Mosman Park with
rents rising being over $650 per
week,” Mr Collins said.
At the end of July, reiwa.com
data found listings for rent
decreased five per cent to 7,074
properties.
Rental affordability
improved during the June
2019 quarter to the lowest
proportion of income
required to meet rent
payments since June 2008,
according to research from
the Real Estate Institute of
Australia. REIA President Adrian Kelly said
the June quarter 2019 edition of
the Housing Affordability
Report found the proportion of
income required to meet rent
payments decreased to 23.8 per
cent, a fall of 1.2 per cent over
the quarter and a decrease of
0.3 per cent compared to the
same quarter 2018.
“During the month, the suburbs
that saw the biggest spike in
leasing activity were Ballajura,
Western Australia Housing affordability in WA
improved with the proportion of
income required to meet loan
repayments decreasing to 22.4
per cent, a decrease of 0.2 per
cent over the quarter and a
decrease of 1.5 per cent
compared to the June quarter
2018.
Rental affordability in WA
also improved during the
June quarter with the
proportion of family
income required to meet
the median rent
decreasing marginally to
16.4 per cent, a decrease
of 0.1 per cent over the
quarter but an increase of
0.1 per cent compared to
the year before.