Moderate falls in Western Australia rental yields the norm: CoreLogic
Perth rents increased by 1.7% over the March 2018 quarter however, they were -1.3% lower over the past 12 months, say CoreLogic.
Rents in regional Western Australia were unchanged over both the quarter and the past 12 months. Gross rental yields currently sit at 3.92% in Perth and 5.64% in regional Western Australia, a year ago they were recorded at 4.00% and 5.43% respectively.
Although rents increased across each of Perth’s SA4 regions over the first quarter of this year, rents were also lower in most regions over the past year. The one exception was the Inner region. Mandurah is the only region in which rental yields were unchanged over the year, all other Perth regions have recorded a moderate fall in rental yields.
Two of the four regional SA4 regions recorded a fall in rents over the quarter while two regions recorded annual falls. Interestingly, the regions that recorded quarterly rental falls were not the ones to record an annual fall. In all regional markets except for Bunbury, where yields have softened over the year, rental yields have increased over the past 12 months.
A Mandurah three bedroom house currently on the rental market is priced at $280 a week (pictured top).
Located at 12 Clarice Street, the house features three bedrooms, separate lounge, and enclosed sun room to rear.
Opposite to the Forum Shopping Centre, it is close to train station and all amenities.