- The list includes suburbs within 20 kilometres of the Perth CBD.
- Suburbs are located both north and south of the river.
- Perth has seen some of the largest rental price hikes since the pandemic began.
The Perth rental market is one of the tightest in the country, recently seeing vacancy rates hit record lows again.
According to the Real Estate Institute of Australia (REIWA), Perth vacancy rates for September were 0.7%. REIWA CEO, Cath Hart, previously noted that, historically, rental listings tend to dry up towards the end of the year, with the likelihood of returning to the previous record low of 0.6% last December a possibility by the end of this year.
Perth vacancy rates
Times of reprieve did appear across the year, with vacancies bumping up briefly mid-year with home building completions meaning renters finally moved into their new homes, and east coast investors also investing in Western Australian homes en masse.
Perth asking rents
Among broader national trends, Domain chief of research and economics, Nicola Powell, previously observed that rental growth eased over the September quarter while vacancies remained at record lows.
“This suggests an affordability ceiling is being reached as strained tenant budgets cannot keep pace with escalating rents and living costs,” Powell previously said.
This was also previously observed by CoreLogic’s Tim Lawless.
Perth’s top five cheapest median rents
According to CoreLogic’s Eliza Owen, Perth recorded the largest cumulative increase in rents of any of the capital city markets since the start of Covid. The number: 44.9%.
“With median weekly rents across the dwelling market sitting at $604 in September, this is the equivalent of an uplift in the median rent value of $186. As population growth surges across Western Australia, and monthly rent growth remains high, no doubt relatively cheap pockets of the city will become more popular,” Owen noted.
Cheapest median rents within 20km of Perth CBD, houses
| Suburb | SA4 region | Median weekly rent |
| Girrawheen | Perth – North West | $491 |
| Gosnells | Perth – South East | $501 |
| Midland | Perth – North East | $503 |
| Middle Swan | Perth – North East | $518 |
| Koondoola | Perth – North West | $519 |
Source: CoreLogic.
Girrawheen took the crown for the cheapest Perth suburb to rent a house in, with median rents coming in at $491 per week. The suburb is about 15 kilometres north of Perth and is known for being a cultural melting pot.
Yields were also strong, with Owen noting each Perth housing market featured recorded gross rent yields of at least 6.0% and median values below $500,000.
Cheapest median rents within 20km of Perth CBD, units
| Suburb | SA4 region | Median weekly rent |
| Midland | Perth – North East | $433 |
| Gosnells | Perth – South East | $441 |
| Noranda | Perth – North East | $445 |
| Hamilton Hill | Perth – South West | $457 |
| Coolbellup | Perth – South West | $462 |
Source: CoreLogic.
Perth’s cheapest rentals were as low as $433 per week, located in Midland. The suburb is a buzzing regional centre some half an hour from Perth’s CBD, and has a train line.
Yields were also strong, Owen noted they ranged from 6.7% in Hamilton Hill to 7.6% in Gosnells.
“The closest unit market to the CBD, Noranda, is fairly thin on amenities and entertainment for young professionals and students, but there is a lively commercial precinct just south in the suburb of Morley,” she said.
Midland
The suburb is a thriving centre, home to a major shopping centre, an employment hub, industrial areas, quality amenities, and various tertiary education opportunities.
Asking rents for 6056, including Midland
Rental vacancies for 6056, including Midland
Girrawheen and Koondoola
These suburbs share the postcode 6064 and are both located within the City of Wanneroo, north of the river.
They form an affordable pocket that also tends to include suburbs such as Westminster, Mirrabooka, and more.
Asking rents for 6064
Rental vacancies for 6064
Hamilton Hill
Located south of the river, Hamilton Hill is a few minutes out of the port of Fremantle, enjoying the nearby amenities as well as easy access to a local theme park.
Its proximity to Jandakot Airport and surrounding employment centres such as Cockburn Central has its perks.
Asking rents for 6163, including Hamilton Hill
Rental vacancies for 6163, including Hamilton Hill
