What You Need to Know About Rentals in Perth in 2018

Perth has become a hub for culture, entertainment, food, arts and sport in Australia. As people flock to experience life in the west, sound knowledge of Perth rentals is more important than ever.

At ACTON, we specialise in providing expert advice on the Perth property market. From houses for rent in regional areas to fully furnished inner city apartments, we’ve got the expertise to match you with the perfect property. Drawing upon our experience and insider knowledge, here’s what you need to know about renting and living in Perth this year.

 

What to Expect When Living in Perth

rental-properties-in-perth-2018If you’re thinking of moving to Perth, expect a vibrant and dynamic city with a diverse range of areas, businesses and people. Expanding suburbs and exciting new developments mean that more restaurants, bars, boutique stores and new experiences are on the rise. Business growth, paired with increased interest from interstate and overseas migrants, has contributed to creating a buzzing atmosphere both in the city and in regional centres.

WA’s economy showed growth throughout 2017, attracting more businesses and customers into regional and metropolitan areas. Unemployment is on the decline as job growth increases and more people find themselves in attractive and rewarding roles. Rental markets demonstrate signs of stability, with median rent prices remaining unchanged.

With stable rents, exciting job opportunities and new businesses emerging regularly, now – more than ever – Is a great time to make the move to Perth.

 

The Low Down on Renting

When it comes to moving to a different state or country, it can be challenging to find out just how much rent you should expect to pay. Advertised rent prices fluctuate depending on areas, property type and size, property age, whether the property is newly renovated and if it comes partially or fully furnished.

If you’re looking at a property for rent in Perth, use the REIWA Market Update as a guide to familiarise yourself with what’s standard. Factor in your potential rent, with a little wriggle room, to get a greater idea of living costs in Perth.

The latest data from REIWA shows that rent in Perth remains relatively stable and significantly more affordable than comparative properties in eastern states. The vacancy rate currently sits at 5% and East Perth, Perth and Rockingham continue to be the most popular metropolitan suburbs while Nickol, Bulgarra and Dawesville dominate regional areas.

When evaluating the price difference between units and houses for rent in Perth, it’s important to consider locale. Often, units and apartment complexes are located in more commercialised and metropolitan areas; explaining the slightly higher rent prices for more compact properties.

Houses

In the first quarter of 2018, houses for rent in Perth reported an upper quartile of $430, lower quartile of $300 and median rent of $360. For a one to two bedroom house, the median rent sat at $290.

Units

For units and apartments, REIWA reported an upper quartile of $400, lower quartile of $270 and median rent of $325. A one bedroom apartment or unit reported a median rent of $275 with a two bedroom coming in at $320.

 

Getting Expert Advice on Properties

Finding the perfect rental property can be difficult for newcomers. With limited understanding of areas and suburbs, it can be tough to find the right fit for your lifestyle and requirements.

At ACTON in Perth, we offer advice and support in finding quality rental properties. Specialising in both metropolitan and regional areas, our professionals consider your requirements, budget and preferences to find a selection of properties to suit your needs.

From spacious three bedroom houses to newly renovated, fully furnished units and apartments, our real estate agents help you secure a property for rent in Perth.

 

Understanding the Cost of Living

Arguably the most important component of your cost of living, rent in Perth is significantly more affordable than in Sydney, Melbourne and Canberra. While food, entertainment and activities are comparable in price, Perth residents enjoy a comfortable and convenient inner city lifestyle without having to spend exponential amounts on relatively basic accommodation.

In comparison to other regions in WA, the cost of living in Perth can be slightly more expensive due to the availability and prevalence of lifestyle options as well as the convenience of travel.

For individuals wanting the perks and conveniences of a metropolitan lifestyle without the inflated cost of living, Perth is an attractive option.

 

Find the Perfect Property in Perth

Searching for your next home in Perth? With offices located across the region, ACTON provides reliable advice on the rental market to help you make the right decision.

Find your next property for rent in Perth with help from our professionals. Contact your nearest ACTON office to chat with our team.

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