Perth Rentals - A Story of Affordability

Perth rental prices have increase 67% since March 2020! And yet we’re still the second most affordable city in Australia, second only to Victoria of all places.

The lower end of the rental market has increased the fastest as well, meaning those paying the least in rent have seen the sharpest rise in costs.

According to a Forbes article from October 2023 Western Australian’s have the highest average salary out of all the capital cities in Australia, which is one of the two reasons rentals are so affordable in WA. First, we can afford it because we’re the richest people in Australia! And second, we’re coming off a very low base, there was a consistent decrease in rental prices from 2015 to 2020 in WA on the back of the mining boom leaving town. So we have some catching up to do both in absolute terms of the dollars lost from 2015 to 2020 and then also to stabilise the affordability of rental prices compared to our high incomes.