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Perth Rents Decline, Bunbury Holds Steady

By Kevin Kelly

There have been mixed results for rental properties across Western Australia, although Bunbury remains one of the standout performers.

The September Quarter 2013 Rental Report from Australian Property Monitors (APM) showed that median weekly asking rents in Perth declined two per cent compared to the previous three-month period.

The situation is not much better for units, either, which have seen a 1.2 per cent quarterly decline.

Houses to rent in Bunbury have experienced much better fortunes over recent months, with the median weekly rent in the city increasing 2.9 per cent between the June quarters of 2012 and 2013.

APM senior economist Andrew Wilson said the results for Perth were hardly surprising when taking into consideration the "unsustainable increases" in rental costs over the past year.

However, he pointed out that these latest falls have not offset some of the gains made in the last 12 months – Perth house rents are now 6.7 per cent higher than a year ago.

Unit rents, on the other hand, have experienced a rise of 10.5 per cent.

This comes at a time when real estate in Bunbury is apparently thriving, showing that investors are looking beyond the Western Australian capital for their next opportunity.

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