(Realestate) – Head to the bush if you’re seeking an affordable rental – that’s the message based on new statistics that show WA’s cheapest rentals are in the outer regions.
This three-bedroom home in Katanning is on the rental market for $280 per week. Picture:realestate.com.au
Data compiled by realestate.com.au has revealed the most economical place to rent in WA is the Great Southern town of Katanning, where the median weekly rental price is $245.
In Perth, the most affordable suburb to rent is Armadale, in the city’s southern suburbs, where the median weekly rent is $250, while properties in the localities of Withers in Bunbury and Wonthella, north near Geraldton, also recorded median rents of $250 per week.
Seven of WA’s cheapest rental suburbs were in regional areas, with Kelmscott in the south-east and Mandurah on Perth’s southern fringe, nominated as the most affordable for rentals closer to Perth, according to statistics for the 12 months to July 31, 2019.House mate deal-breakers!
Simona Wells, from Professionals PL Bolto & Co – Katanning, says Katanning had seen some growth in rental return with a healthy market that thrived on the town’s transient nature and new arrivals to town.
“Katanning is a lot more transient than it was 10 years ago with people coming to work here,” Wells says. “There are a mix of industries, so we’re finding people coming to town with jobs, with local businesses or WAMMCO (the lamb producer).”
Wells says if owners were prepared to invest in upkeep of their rental properties, they would make good returns.
“There are definitely good rents achieved for the prices of the properties,” she says.
“We have seen some steady increases. We have had some units start at $100 a week and now they’re at $150 a week, whereas some other properties have been $200 to $220 for the last 10 years. The house itself will dictate the price, depending on the condition and its location.”Hot rentals on the market right now!
O’Neil Real Estate property management general manager Leah Johnson says the vacancy rate for the Armadale-Kelmscott region is tightening, with nine properties leased by the agency in the area this week alone.
“You can get really good bang for your buck,” Johnson says.
“For $250 a week you can get something around five years old that’s a three-bedroom by two-bathroom villa, double lock-up garage, air-conditioning.”
“We are pushing towards a vacancy rate in the low 2%. A couple of years ago we were about 5%, so we are finding that these properties are getting snapped up.
“Vacancy rates have come down and our days on market have come down. I think we are right on the point of starting to see some movement with things looking up.”
WA’s cheapest rental suburbs
Prices provided are median weekly rents for the 12 months to the end of July 2019.
1. Katanning $245pw
2. Armadale $250
3. Withers (Bunbury) $250
4. Wonthella (Geraldton) $250
5. Collie $260
6. Geraldton $265
7. Narrogin $268
8. Kelmscott $270
9. Carey Park (Bunbury) $270
10. Mandurah $270