Figures show Perth's average weekly house rent spiking by 21.6 per cent in just 12 months to its highest mark in six years, with tenants like Katie Lean facing steep increases in a fiercely competitive market.
Perth's average weekly rent has skyrocketed to a six-year high, creating a massive win for landlords while tenants face steep increases in a fiercely competitive market.It's the largest increase in more than a decade and more than other citiesKatie Lean is just one of those affected, with the spike making life difficult for the 38-year-old single mother with three children aged 15 years and under.
"Increases are happening within Perth, but I think the specific amounts that they're going up by just seem quite incredible, where wages obviously aren't increasing at the same time so making it very difficult for a lot of families."The latest figures released by Domain today show average house rentals for the June quarter jumped to $450 per week in Perth, up from $370 during the same time last year.
This time last year, rentals in Perth for homes and units were the cheapest in the country, sitting at $370 and $320 respectively.But the current data for house rental prices leaves Perth on par with many other states including Brisbane, where figures are at a record high. "I think what we have seen is the vacancy rate was declining prior to the pandemic, but what the pandemic did is it accelerated the decline in vacant rentals.Dozens attend home opens in tight market"I went to a home open [this week], which was also in Treeby, but [was] a three-by-two so it would be a substantially smaller property than what I'm in now, and there were at least 40 people there looking at the property.