Madora Bay among top Perth suburbs with low rental numbers

PIC: File

Madora Bay has been named among the top Perth suburbs most in need of investors.

Coming in at number 10, Madora Bay had just one property available for rent at the end of May 22.

Also making the list were Southern River, Leeming and Parmelia.

REIWA President Damian Collins said the rental shortage remained a significant challenge for the state, with many suburbs across Perth having only a handful of rentals available. 

“Many of the suburbs highlighted on this list, like Kingsley, Southern River and Leeming are large suburbs with more than 10,000 people residing in the area. For there to be just a single rental available at any time, highlights how important it is that we attract investors back to the WA market,” Mr Collins said. 

Of the 12 suburbs on the list, five have median sale prices below the Perth median of $525,000, three are between $570,000 and $700,000, and four are priced above $785,000. 

Additionally, eight of the 12 suburbs are producing gross rental yields of four per cent or higher. 

“With a wide variety of price points highlighted on this list, as well as strong rental yields on offer, there is excellent opportunity for investors to purchase a high performing rental in these areas,” Mr Collins said. 

There is an urgent need for more investors in WA, with fewer than 2500 properties available for rent in Perth and vacancy rates across the state remaining at or near record lows. 

“We have some of the most affordable housing in the country as well as a high demand for rentals. There is enormous potential for investors to take advantage of the state’s healthy economy and strong property market to secure a low-risk rental," Mr Collins said. 

“If you have been thinking about investing in the Perth property market, the suburbs highlighted on this list would be a good place to start discussions with your REIWA buyer’s agent.”

Suburb

Listings for rent
(end of May)

Median rent price

Median sale price

Rental yield

1. Southern River

1

$500 per week

$591,500

4.4%

2. Leeming

1

$600 per week

$787,500

4.0%

3. Parmelia

1

$400 per week

$307,000

6.8%

4. Kingsley

1

$520 per week

$695,000

3.9%

5. Caversham

1

$500 per week

$520,000

5.0%

6. Lockridge

1

$380 per week

$332,500

5.9%

7. Swan View

1

$413 per week

$410,000

5.2%

8. Hilbert

1

$468 per week

$420,000

5.8%

9. Manning

1

$550 per week

$827,500

3.5%

10. Madora Bay

1

$500 per week

$570,000

4.6%

11. North Beach

1

$450 per week

$985,000

2.4%

12. Iluka

1

$660 per week

$950,000

3.6%

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