As a new report confirms Perth's status as one of the tightest rental markets in the country, an expert warns the situation is going to get worse before it gets better.
abc.net.au/news/perth-rental-price-soaring-new-data/102401962As Perth tenants continue to feel the bite of rent increases and cost-of-living pressures, a new report has outlined the scale of hikes in a market described as the tightest in decades.With vacancy rates below 1 per cent, rent costs are soaringThe report, from property data company PropTrack, found house rents had increased by up to an average of $178 per week, with the top figures coming from inner-city or coastal suburbs.
"Alec works in Osborne Park and I work in Fremantle so there's only really a triangle of places to go," Ms Jackson said.Rental stock in Perth is at critically low levels.Perth rental market among worst in country The suburbs where the highest median increases were reported include Claremont, East Perth and Wembley Downs for houses and South Fremantle, North Coogee and Jolimont for units — all either close to the city or the coast.
He said low vacancies were leading to a market where more people had to compete with each other to find accommodation.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning Mail: Erdoğan claims election victory, Melbourne hit by earthquake, rents soarRecep Tayyip Erdoğan declares victory over his rival Kemal Kılıçdaroğlu; parts of Melbourne shaken by a 3.8 magnitude earthquake that hit near Sunbury; rental affordability hits decade low
Read more »
Tight exclusion zone remains after massive Sydney blazeA badly damaged section of the inner Sydney building mostly destroyed by fire moved 70mm overnight as police and specialist firefighters warn it could collapse at any moment.
Read more »
Will we miss 'tight' labour markets? These six graphs tell the story of Australia's post-pandemic jobs marketIf this is the end of 'tight' labour markets, let's appreciate what we've achieved, writes Gareth Hutchens.
Read more »
Why decadent gourmet cheese seems immune to cost-of-living pressuresArtisan cheesemakers say sales of gourmet cheese are defying cost-of-living pressures as more people enjoy little indulgences at home instead of eating out.
Read more »
Morning Mail: Erdoğan claims election victory, Melbourne hit by earthquake, rents soarRecep Tayyip Erdoğan declares victory over his rival Kemal Kılıçdaroğlu; parts of Melbourne shaken by a 3.8 magnitude earthquake that hit near Sunbury; rental affordability hits decade low
Read more »
Landlord tax deductions soar as interest rates bite property marketSoaring interest rates are hitting all mortgage holders including landlords, who will pass on some of the cost to the federal budget.
Read more »