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  • Regional rental market improves in September quarter

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    Regional median house rents improved in the September quarter, with 10 out of 11* regional centres experiencing stable or increased prices.

    REIWA President Hayden Groves said five regional centres saw their median house rent increase over the quarter, while five centres had steady rents.

    “Rent prices in many regional areas took a hit following the slowdown in the mining sector. We’re now seeing stable or elevated prices emerging which is encouraging for landlords and property investors,” Mr Groves said.

    Karratha experienced the biggest increase in median house rent price, lifting from $400 per week in the June quarter to $450 per week in the September quarter.

    “Although leasing activity in Karratha dipped in the September quarter, its median house rent has had a strong resurgence, lifting back to levels last seen in mid-2016. Planned investment in the Pilbara region has likely played a role in the recovery of rent prices in the area, with proposed developments in port and rail infrastructure having a positive effect on the local economy and consumer sentiment,” Mr Groves said.

    Rent prices across the Esperance Urban Area, Geraldton/Greenough, Kalgoorlie/Boulder and Mandurah/Murray regions also improved over the quarter.

    Leasing activity

    During the September quarter, leasing activity increased in six regional centres, with Northam and Port Hedland the biggest improvers.

    “Despite its median house rent declining over the quarter, leasing activity in the small Northam market had a noticeable improvement, lifting from 34 leased properties in the June quarter to 45 in the September quarter,” Mr Groves said.

    “In Port Hedland, stable rent prices and a 29.8 per cent spike in leasing activity over the quarter indicates the tide may be turning, which is welcome news for the region after a prolonged period of challenging market conditions.”

    Leasing activity in the Albany Urban Area, Mandurah/Murray, Greater Bunbury and Busselton Urban Area regions also improved in the September quarter.

    “It’s pleasing to see positive results emerging in the regional WA rental markets. Business and government investments in the regions have increased in the last six months, particularly in the Kimberley, Pilbara and South West, which has bolstered job creation and subsequently improved tenant demand,” Mr Groves said.

    “We expect regional rental markets to continue to improve as production of these planned investments ramp up.”

    Regional WA – September quarter rental snapshot

        Regional centre September quarter median house rent Quarterly change Houses leased over quarter  Quarterly change
    Albany Urban Area  $350  $0 155 ↑ 14.8% 
    Broome Urban Area  $550  $0  71  ↓ 29.7% 
    Greater Bunbury  $330  $0  283  ↑ 2.5% 
    Busselton Urban Area  $380  $0  137  ↑ 0.7% 
    Esperance Urban Area  $340  ↑ $10 44  ↓ 6.4% 
    Geraldton/Greenough  $290  ↑ $10  207  ↓ 4.2 
    Kalgoorlie/Boulder  $350  ↑ $5  146  ↓ 8.8% 
    Karratha Urban Area  $450  ↑ $50  144  ↓ 22.2% 
    Mandurah Murray $320  ↑ $5  595  ↑ 4.6% 
    Northam  $270  ↓ $28  45  ↑ 32.4% 
    Port Hedland  $400  $0  161  ↑ 29.8% 
    Regional WA  $335  $0  2,250  ↓ 0.2% 
    *Carnarvon has been omitted due to small market sample size.

    For more information about your regional centre, visit the WA market page.