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Southern River, Leeming and Parmelia are among the 12 Perth suburbs most in need of investors.
Also making the list were Kingsley, Caversham, Lockridge, Swan View, Hilbert, Manning, Madora Bay, North Beach and Iluka, with reiwa.com analysis finding that each suburb had just one property available for rent at the end of May 2022.
REIWA President Damian Collins said the rental shortage remained a significant challenge for the state, with many suburbs across Perth having only a handful of rentals available.
“Many of the suburbs highlighted on this list, like Kingsley, Southern River and Leeming are large suburbs with more than 10,000 people residing in the area. For there to be just a single rental available at any time, highlights how important it is that
we attract investors back to the WA market,” Mr Collins said.
Of the 12 suburbs on the list, five have median sale prices below the Perth median of $525,000, three are between $570,000 and $700,000, and four are priced above $785,000.
Additionally, eight of the 12 suburbs are producing gross rental yields of four per cent or higher.
“With a wide variety of price points highlighted on this list, as well as strong rental yields on offer, there is excellent opportunity for investors to purchase a high performing rental in these areas,” Mr Collins said.
There is an urgent need for more investors in WA, with fewer than 2,500 properties available for rent in Perth and vacancy rates across the state remaining at or near record lows.
“We have some of the most affordable housing in the country as well as a high demand for rentals. There is enormous potential for investors to take advantage of the state’s healthy economy and strong property market to secure a low-risk rental," Mr Collins
“If you have been thinking about investing in the Perth property market, the suburbs highlighted on this list would be a good place to start discussions with your REIWA buyer’s agent.”
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