Perth rentals down 10-30% from peak
By Bianca Dabu
22 June 2021
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1 minute read
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The Perth rental market has risen in affordability, with a new analysis showing more than 200 suburbs with median house rents below their peak prices.
Recent data from the Real Estate Institute of Western Australia (REIWA) found a total 235 suburbs across the state with median house rents below their peak prices as of May 2021.
Of these suburbs, 201 were 10 per cent cheaper than their previous peaks, while 37 were more than 20 per cent cheaper.
“While rent prices have lifted over the last year, most suburbs are cheaper than they used to be – and some significantly so,” according to REIWA president Damian Collins.
While the overall Perth median house sale price in March 2021 failed to eclipse the market’s 2014 peak, parts of the region have reached historic highs.
Perth not WA’s only hot property market: REIWA
By Bianca Dabu
03 May 2021
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1 minute read
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Regional centres in Western Australia have recorded strong price growth in the March quarter, building on Perth’s revival as a property market.
New data from the Real Estate Institute of Western Australia (REIWA) showed that seven out of nine regional centres across the state saw values increase over the past quarter, driven largely by high demand and declines in listings.
Port Hedland topped the list with a 9.4 per cent increase over the quarter.
“The driving force behind Port Hedland’s improvement in median sale price is the resurgence of the Pilbara’s mining sector,” according to REIWA president Damian Collins.