As rental prices soar across Perth, tenants are swooping on some of the city’s hottest rental suburbs.
With interest rate hikes and a property boom resulting in record median house prices across the State, homes close to train stations and schools are in more demand than ever.
But tenants have to be quick. Homes in some Perth suburbs take as little as nine days, on average, to be snapped up.
Here are the Perth suburbs where properties are leased out quickest.
10 – East Perth
It takes an average of just 11 days for a rental property to be filled in East Perth, with the river and the city on its doorstep. But tenants need a fat wallet to afford the convenience of the city’s fringe. Median rents in the suburb cost $585 – well above the city’s average of $470. But the high price appears to have been no deterrant – in the year to May, 52 houses were snapped up in East Perth.
9 – The Vines
The lure of the Swan Valley remains strong for those looking to rent. The Vines is in hot demand, with properties taking an average of just 10 days to rent out. Even though it’s 25km out of the CBD, it still costs a whopping $520 a week on average to rent here. In the 12 months to May, 35 homes have been rented out in the suburb.
8 – Seville Grove
By far the most rented suburb in the top 10 was Seville Grove, in Perth south-east, perhaps owing to its affordable rental price. It costs an average of just $435 a week to rent in the suburb, which is a student and family haven with two schools and a TAFE and had 120 new tenants in the year to May. It takes an average of just 10 days for a rental to be snapped up in Seville Grove.
7 – lynwood
The eastern Perth suburb of Lynwood is also a parents’ haven with a primary and high school in the region. The median rent is also below Perth’s average at $460 a week. Rental properties are advertised for an average of 10 days before they’re filled in the suburb.
Also in Perth’s eastern suburbs, this is by far the cheapest place to rent on the list. It costs an average of just $410 a week to rent a home in Langford, which is close to the Westfield Carousel Shopping Centre. Homes take an average of 10 days to be snapped up in the suburb.
5 – Karrinyup
The redevelopment of Karrinyup Shopping Center and its proximity to both the city and beach has resulted in a flood of tenants vying to rent nearby. Rental prices cost a whopping $555 on average but that hasn’t deterred 84 tenants from taking on homes in the suburb.
4 – Huntingdale
With below-average rental prices of just $440 a week, Huntingdale, 20km south-east of Perth is also popular. It takes an average of just 10 days for a home to be snapped up in the region, which has several schools and has attracted 59 tenants in the year to May.
Smack on Perth’s average rental price of $470 a week, this northern suburb has been dubbed “one to watch” for investors and tenants by the Real Estate Institute of WA, because of the potential for future development in the area. It may be 43km north of the city, but 55 tenants chose to live there in the year to May.
2 – Marangaroo
Also in Perth’s northern suburbs, Marangaroo is considered a family-oriented suburb with heaps of schooling options. But tenants have to move quickly to find a home in the suburb, with an average leasing time of just nine days making it one of Perth’s hottest rental suburbs. In the year to May, 43 homes were rented out at an average price of $500 a week.
1 – Camillo
But Perth’s hottest rental suburb is south of the river. In Camillo, homes are advertised for an average of just nine days before they’re snapped up and, it’s no surprise why. With an average rental price of just $380 a week it’s one of the cheapest places in Perth to rent a home. It’s also a commuter’s dream, close to the highway and train station. In the 12 months to May, 39 homes were leased in Camillo.