The cheapest suburbs to rent within 10km of the CBD

YOU don’t just need to look to the outer suburbs to find a well-priced home to rent, REIWA has identified 10 affordable areas within 10km of the CBD.

All recorded median rental prices well below the Perth median of $350 per week for the June quarter 2018.

The top 10:

10. Yokine

Starting the top 10 with a median rent price of $300 a week, is Yokine. Compared to the same time in 2017, rent prices in Yokine decreased by $10 per week and increased by a marginal one per cent in leasing activity. This well-established suburb is just 8km away from the CBD and close to all amenities.

9. Westminster

At number nine on this list is Westminster, again with a median rent price of $300 a week recorded in the three months to June 2018. Rental affordability improved in Westminster by $30 which potentially led to a 19 per cent increase in leasing activity when looking at the same time last year. Westminster is situated 10km north of Perth.

8. Victoria Park

Situated just 3km east of Perth City, Victoria Park comes in at number eight on the list of the most affordable suburb for median rent price within 10km of Perth CBD. Its median rent price sits at $300 a week, which is an improvement in affordability by $10 a week, when compared to the June 2017 quarter. Leasing activity had also declined by 10 per cent since the same time last year.

7. Tuart Hill

Tuart Hill also recorded a median rent price of $300 in the three months to June 2018. It is located 8km away from the Perth CBD in the city of Stirling. Tuart Hill recorded no change in its median rent price when compared to the same time last year, however there was a 20 per cent lift in leasing activity in the area.

6. Mount Lawley

Mount Lawley ranks sixth on the list of most affordable rental suburbs for tenants within 10km of the city. This inner-city suburb is situated 8km north of Perth CBD and recorded a median rent of $300 a week in the June 2018 quarter. The suburb has improved in affordability for tenants over the last year by a significant $40 per week and leasing activity dropped by five per cent.

5. Maylands

Beginning the top five is the riverside suburb Maylands, which is located 6km northeast of Perth. The suburb is the only suburb on this list to have experienced an increase to its median rent price in the last year, with tenants now paying an extra $15 a week in rent than they would have in the June 2017 quarter – favouring well for investors in the area. The median rent price tenants currently pay in Maylands is $295 per week, with the suburb experiencing a three per cent decline in leasing activity since the same time last year.

4. Osborne Park

Located just 8km northwest of the city, Osbourne Park is a mixed-use residential, industrial and commercial suburb. The suburb has stabilised in rent price over the last year with no change to its median rent which comes in at $270 per week. Leasing activity in the area saw a substantial lift by 35 per cent when compared to the same time last year, suggesting there may be a little more competition from tenants looking to secure a rental.

3. Glendalough

Third on the list is Glendalough, positioned 6km north of Perth. Its median rent of $270 per week was $25 more affordable in the June 2018 quarter than it was the same time in 2017. Glendalough experienced a 30 per cent decline in leasing activity in the June 2018 quarter when compared to the June 2017 quarter.

2. Wembley

Tenants looking to secure a rental in Wembley can do so for an affordable median rent price of $250 per week. Another western suburbs of Perth, Wembley is situated 7km away from the Perth CBD. Wembley’s median rent price had dropped $20 when compared to the same time last year and leasing activity had marginally declined by two per cent.

1. Daglish

Daglish tops the list as the most affordable suburb for median rent price within 10km of Perth CBD. Situated just 4km away from Perth, Daglish is part of Perth’s affluent western suburbs, making it a highly sought after location for tenants. Daglish recorded a median rent price of $240 a week in the June 2018 quarter which is $10 cheaper when compared to the same time last year, which is positive news for tenants. However leasing activity significantly dropped by 53 per cent, with only eight dwellings leased in the 2018 June quarter.