Survey finds regional rents are on the rebound
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.