WA remains the most affordable state for renting in Australia
To the surprise of many west Aussies, the west remains best for rental affordability in the country even in the times of a rental market crisis.
The Housing Affordability Report by REIA released this week, measures affordability based on what portion of the median weekly family income is required to service a loan or pay rent.
Surprisingly, Australia’s Apple Isle topped the charts, with the average Tasmanian family paying a massive 30% of their average income to rent.
On the purchasing front, the Northern Territory is the most affordable for buying property, just slightly above Western Australia.
And as analysts expect the property market to cool on the price front in 2023, unfortunately for west Aussies looking to get into the Perth property market, REIWA predicts Perth house prices will increase a further 10% next year.
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