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,

by heading to our NEW mobile friendly website.

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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.