WA rents rise strongest
WA rents rise strongest
Posted on Wednesday, April 09 2014 at 8:32 AM
Rents have risen more in Western Australia than any other state or territory according to recent analysis of 2011 census data by the Australian Bureau of Statistics (ABS).
Lisa Conolly, a director at the ABS, says WA
reported a 77 per cent increase between 2006 and 2011, with median weekly rent rising
from $170 per week to $300 per week.
“Local government
areas in WA recorded some of the biggest growth in median rent payments in
Australia, with eight out of the 10 fastest growing regions located in WA.”
Despite WA’s statewide
pole position, the town with the fastest rising rent wasn’t in the west.
“However, Weipa, in
far north Queensland, came in at the top, reflecting a change from employer-owned
housing to private rental arrangements.”
Local government areas in Greater Sydney
continued to have the highest median rents in Australia, with the highest in
Ku-ring-gai at $575 per week, and Woollahra at $550 per week.
In Victoria, Melbourne’s $400 per week median
and Bayside’s $390 per week result were highest.
“Nationally,
rental costs increased by more than mortgage repayments with the median weekly
household rent rising from $191 in 2006 to $285 in 2011 – an increase of 49 per
cent, whereas mortgage repayments have increased 39 per cent during this time.
“Rental
costs have also increased by twice as much as wages with the median weekly
household income increasing from $1,027 in 2006 to $1,234 in 2011, up 20 per
cent,” Conolly says.
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
Recent articles:
WA rents rise strongest
Real estate leads business confidence upswing.
Melbourne set to become Australia’s largest city
Pools deadline extended for landlords and sellers
New infrastructure to reduce flood impacts.
Increasing WA listings cool the market
Leave a comment
Comments
Article source: http://feedproxy.google.com/~r/API_Property_News/~3/eqgajXDnhFU/wa-rents-rise-strongest