Nine suburbs in West Australia’s capital city of Perth feature in a list of the 10 most in-demand areas for renters nationwide.
According to the data from real estate analysts PropTrack, those looking to rent a property in Perth’s more affordable suburbs are likely to be in competition with up to 160 other applicants for each listing.
The suburb of Bentley, just south of Perth’s CBD and located near Curtin University, saw the greatest demand in the nation with an average of 160 inquiries per listing.
The inner-city suburbs of Tuart Hill and Lathlain were the second and third most in demand suburbs with just over 150 inquiries.
Para Hills West in north Adelaide was the only non-Perth suburb to reach the top 10 with an average of 136 people competing for each listing.
Western Australia’s capital Perth (pictured) has taken the cake as the most in-demand city for renters, with the inner-city suburb of Bentley drawing an average of 160 inquiries-per-listing
PropTrack senior economist Eleanor Creagh said the shocking increase was partly due to a lack of housing construction leading to low vacancy rates.
‘Demand is running well ahead of supply in suburbs in Perth and Adelaide – the most competitive in the country with the most enquiries per listing in the year to September 2023,’ Ms Creagh told Daily Mail Australia.
‘This isn’t surprising given Perth and Adelaide have the tightest rental markets, with rental vacancies below 1%.’
Separate figures revealed Perth to have a vacancy rate of just 0.71 per cent, while Adelaide stood at 0.65 per cent.
‘This is reflective of very tight conditions, and a shortage of available rentals, meaning it’s difficult for many to find an available rental and market conditions are highly competitive,’ Ms Creagh said.
She noted that without an increase in housing supply to help relieve skyrocketing demand, the competition for rentals will continue to be driven up.
‘Unfortunately, meaningful reprieve for renters isn’t in reach… tough conditions will remain,’ she said.
In some rural areas, a ‘shift in economic conditions’ driving people into the city could also be driving up demand.
PropTrack economist Eleanor Creagh said the increase in tenants applying per listing was largely due to a shortage in new housing construction, with Perth having a vacancy rate of just 0.71 per cent (stock image of a rental queue)
Real Estate Institute of Australia boss Hayden Groves claimed a ‘lack of affordable supply’ in housing had driven renters into suburbs with cheaper rentals ‘more than they would in the past’.
He noted a significant drop in investment properties in Perth as rental prices dropped from 2012 through to 2021 leading to a housing shortage.
While Perth renters might struggle to beat the hordes of other applicants, other suburbs in Australia saw inquiries drop significantly over the past 12 months.
Brisbane’s Coal Falls, The ACT’s Melba and Chain Valley Bay in Sydney all saw inquiries-per-listing plummet by 77 per cent.
The 10 suburbs with the most enquiries per listing
Bentley (Perth), 160
Tuart Hill (Perth), 152
Lathlain (Perth), 151
Queens Park (Perth), 145
Balga (Perth), 145
Para Hills West (Adelaide), 136
Beldon (Perth), 135
East Cannington (Perth), 132
Wembley (Perth), 132
Midland (Perth), 131
Source: PropTrack analysis of enquiries on realestate.com.au