Median falling or really in stagnation in every other Australian state/territory except for rental prices in Perth.
Solid trend that could see Perth become the most
expensive place in the country for renters. House rent prices rose 1% and unit rent prices shooting up by 13.3%
"It's interesting times ahead for Perth and not a great time for people who are renting"
For the nation..... weekly asking rents for houses fell by 0.5 per cent in the quarter, while unit rents managed to crawl up by 0.5 per cent, as renters in some states turned away from houses in favour of more affordable options.
Lags and a disproportionate number of first home buyers per capita could explain why prices have continued to rise across the Perth market despite recent increases in unemployment and a softening in resources development.
"Those job seekers are still looking for accommodation and the first port of call is the rental market and that has shown enormous growth over the past 12 months and we don't see that easing."
"Perth really has the highest amount per person of first home buyers and part of that is affordability driving because of high rent it remains cheaper to buy than rent in some places."
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