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Perth records strongest rental growth in the nation

Posted 14 January 2021

Perth's property market is soaring with the strongest annual rental growth recorded in the nation.

Rental prices are up 13.5 percent increasing to $420 a week over the December quarter compared to $370 a week over the same period last year.

Summit's General Manager for Sales and Marketing Adam Schaal, said he expects to see further upward pressure given the reduction in established stock, the ongoing migration to WA and the rental moratorium lifting at the end of March.

"The record growth has resulted in tenants now operating in a landlords’ market which is great news for investors," Mr Schaal said.  

"And if you're one of the thousands of people renting, the evidence is clear that now is the best time to own your own home with rents expected for rise a further 20 percent increase in the coming months.

"With rents set to rise, interest rates at historic lows and Government Building Grants up to $25,000 still up for available, there's never been a better time to build your next home."

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