Skyrocketing Perth rents a blow for tenants, boon for investors
With one of the lowest vacancy rates in Australia, Perth's red hot rental market is offering high yields for investors, coupled with a relatively affordable entry point.
Renting in Perth’s Applecross will set the budget back a median of $898 but digs deep into the pocket with a median house price of $1,886,738. (Image source: Shutterstock.com)
Dwelling values more than exceeded expectations in Perth over the course of 2023 and are tipped to continue skyrocketing in 2024 but what is happening in the rental market?
Affordability overall across the country has put downward pressure on the speed of rental growth
recently, but since Covid, rental values have grown 30.4 per cent higher.Perth rents have soared by 15 per cent year-on-year from $480 to $550 per week, which is driving rental …
