Sydney Morning Herald: Western Australia has a high vacancy rate and rents have soared
Sydney Today, April 4, Eastern Time, Western Australia Although there is an urgent need for more housing supply in Western Australia, there are tens of thousands of houses left unused. According to analysts from BIS Shrapnel, renters there lined up to pay to "buy" the landlord to rent a house, and as many as 18 properties in the state were left idle.
Robert Mellor, operations manager of BIS Shrapnel, said that some houses there are used as holiday homes or are being renovated, but many owners live overseas or they have experienced a long depression and are waiting for the opportunity to rise in house prices.
Perth's rental vacancy rate has dropped by 2%, and tenants are facing fierce competition when renting. The housing market in small centers such as Karratha and Port Hedland is more competitive, where the vacancy rate is approaching zero. The vacancy rate in the Kalgoorlie/Boulder (0%) and Broome (1.6%) areas is also very low. More than 1.8 people in Western Australia have applied for renting in the open market.
Data from the Australian Bureau of Statistics show that there are 48600 vacant houses in Western Australia, accounting for 2006% of the 8 housing inventory. Western Australia’s housing vacancy rate is one of the highest in Australia. Australians for Affordable Housing spokeswoman Sarah Toohey said that if the state’s land tax is extended to all properties, not just the initial properties, they will be encouraged to sell or rent out their homes.
According to data from real estate agencies in Western Australia, rents in Perth have increased by 10% in the past year. The average weekly rent for House is now A$425, and the average weekly rent for Unit or Townhouse is A$400. Official data last week showed that some people who wanted to rent a house voluntarily paid a weekly rent of $50 higher than the asking price. Some property analysts pointed out that this price difference is unprecedented.
The Western Australian Real Estate Agency pointed out that housing prices in Perth and Western Australia have fallen by an average of 2010% since 8, and this decline will no longer exist. (Ivy)