Sur­vey finds re­gional rents are on the re­bound

Pilbara News - - Property - Louise Alling­ham

Rents are in­creas­ing around re­gional WA de­spite Perth’s slow­ing mar­ket.

The Real Es­tate In­sti­tute of WA’s data show av­er­age rents in­creased or re­mained sta­ble in all but two re­gional towns dur­ing the De­cem­ber quar­ter.

Kar­ratha’s rents in­creased by a stag­ger­ing $200 how­ever, REIWA pres­i­dent Hay­den Groves said this was an ex­cep­tional statis­tic — Albany had the high­est rise af­ter Kar­ratha of just $10.

“Kar­ratha ur­ban area was some­thing of an anom­aly in the re­gional mar­ket due to a small sam­ple of new rentals skew­ing the mar­ket,” Mr Groves said.

REIWA’s Kar­ratha chair­man Richard Naulls told The West Aus­tralian last week he at­trib­uted the spike to buy­ers hav­ing snapped up the city’s most ex­pen­sive rentals be­fore the Christ­mas pe­riod.

Port Hed­land had the big­gest de­cline in price with rents drop­ping from $550 in the Septem­ber quar­ter to $485 by the end of the year.

Re­gional WA’s rent prices are on the rise de­spite a slow mar­ket in Perth.

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