perths most affordable suburbs to rent revealed
Perth’s top five most affordable suburbs to rent in for houses and units revealed. Image: Canva.
  • 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




You May Also Like

Townsville’s $200K price mismatch between new and existing homes drives demand into the established home market

Demand for established homes is expected to push prices up, with major local projects also seeing people move to Townsville.

Sydney needs more density, not more sprawl, to solve housing woes

Developing inner Sydney suburbs can enhance productivity, wages, and reduce carbon emissions while conserving land and green spaces.

Australia’s regional property market records quarterly home price rise of 1.2%, outpacing the capital cities

Some of the strongest performers were dotted across Western Australia and Queensland.

Eastern state investors are swarming to Perth’s southwest, drawn by high yields and low prices

Interstate investors rush to claim a slice of Perth’s southwest, as listings plummet below 4000, escalating competition.

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.