PERTH’S vacancy rate for rental properties has hit a 20-year high as landlords report a spate of tenants breaking leases.
~ Rents across Perth cheaper as vacancy rate hits 20-year-high
~ Claremont sees biggest drop in rents for tenants in houses
~ North Coogee sees biggest drop in rents for unit tenants
The vacancy rate is now more than 5 per cent — its highest since December 1995, when Paul Keating was Prime Minister and Coolio’s Gangsta’s Paradise topped the music chart, Real Estate Institute of WA figures show.
Landlords are now being encouraged to offer incentives — such as free Wi-Fi or a week’s free rent — to lure tenants, with experts warning the vacancy rate has yet to peak.
The median weekly rent for Perth is $420 for houses and $395 for units, down 13 per cent from ...Read More