PERTH’S southern suburbs are among the most in-demand among tenants according to Reiwa.
Mandurah, Rockingham and Baldivis topped its list of the 10 suburbs and regional towns most popular with West Australians looking for a rental home in the 12 months to February 2019.
President Damian Collins said the list was quite diverse, with seven suburbs from within the Perth region and three regional towns.
“The list is also quite varied in terms of population,” he said.
“While we would expect to see suburbs with larger numbers of properties in areas like Baldivis and Canning Vale return high search volumes, a number of the suburbs on the list that ranked well have fewer than 10,000 people residing in the area.
“Of course, areas like Mandurah, Geraldton, Bunbury and Kalgoorlie also represent a broader urban area which has likely contributed to their popularity with WA tenants.”
Geraldton and Bunbury, at fourth and fifth respectively, were the top two regional centres.
Joondalup, Scarborough, Kalgoorlie, Ellenbrook and Canning Vale completed the list.
Reiwa.com data showed nine of the 10 suburbs experienced declines in the number of properties available for rent in their respective areas over the last year, with Mandurah, Canning Vale and Bunbury recording the most significant reductions.
“When there is increased interest in a suburb and fewer rentals available, this leads to stronger competition between tenants,” Mr Collins said.
“While overall rent prices in Perth have been stable for a while now, there are some pockets that are starting to see prices rise.
“From the list, Baldivis, Geraldton, Scarborough and Canning Vale all experienced increases in median rent over the last year, with their individual rent prices lifting by $10, $5, $18 and $10 respectively.”
Landlords also found it quicker to find tenants in these in-demand areas, with nine of the 10 suburbs seeing their average leasing times improve during the last year.
Canning Vale (39 days) and Joondalup (45 days) had the most notable decline in leasing times, with each experiencing a reduction of 11 days, followed by Baldivis (41 days), Geraldton (57 days) and Scarborough (39 days), which reduced by 10 days each.
Bunbury was the only area on the list to not record an improvement in average leasing time.
“These 10 areas clearly hold a lot of appeal for West Aussie tenants,” Mr Collins said.
“If you’re an investor looking to buy, I’d recommend speaking to a real estate agent about how these local markets are performing and what investment opportunities are available.”