Fancy a place that’s close to the water?
Then it appears you’re not alone. According to the latest REA Group Property Demand Index released in February 2017, the water’s edge is the place to be these days. It seems that people just can’t get enough of Perth’s waterside suburbs, and fair enough too. With our long summers, pristine beaches and crystal-clear water, renters are quite literally flocking in droves to those areas situated closest to the beach or river. According to the report, they’re now the most popular options for people seeking houses for rent in Western Australia.
“Coastal suburbs north of Perth feature strongly in the list of most popular suburbs for renters in Western Australia, accounting for half of the top ten,” says REA Group Chief Economist, Nerida Conisbee, who compiled the report.
“The popularity of beaches with people renting was a feature nationally, with many chasing the best possible lifestyle, a characteristic they appear more prepared to lose when they look to buy.”
The figures were based on the number of people who searched for rental properties in the classified section of REA Group’s online property website, realestate.com.au. This was measured against the average number of property listings, which is seasonally adjusted and indexed.
Coastal areas in the northern suburbs featured the strongest, with Trigg topping the list at number one. Touted as one of the most popular suburbs in Perth for several years now, Trigg has been enjoying strong growth due to its fantastic lifestyle options and amenities. Meanwhile, City Beach came in at number three on the list, thanks largely to its close proximity to parks and superb beaches, with many of the properties enjoying ocean views. Both suburbs are a mere fifteen minutes’ drive to the Perth CBD.
Other popular beachside suburbs north of the river included Marmion (number five), Floreat (number six) and Swanbourne (number eight). Over recent years, the rental market has swung into the renter’s favour, making rental properties that were once out of people’s price range suddenly more affordable. In turn, this has made beach or waterfront living a more attainable lifestyle for many renters.
The complete list of top ten in-demand rental suburbs in Western Australia is as follows:
- Salter Point
- City Beach
- Mt. Claremont
- Peppermint Grove
The report also stated that overall, there had been a 7.4% drop in demand for people in Perth searching for real estate over the past twelve months. It was the biggest decrease in the country. In contrast, Melbourne and Sydney once again hit record highs, with increases of 24.7% and 32.9% respectively, and house median prices continuing to break records across the country.