Perth Real Estate: Discover Why Regional WA, Including Albany, Is Booming

Perth Real Estate: Discover Why Regional WA, Including Albany, Is Booming

Albany Leads Regional Centres in Rental Market Growth

Albany was the second top-performing regional centre over the March quarter, with its median weekly rent increasing by 8.7 per cent to $500. Mr White said the shortage of rental properties remained a significant challenge in meeting demand.

Alternative Living Arrangements on the Rise

“Our members report alternative living arrangements are becoming more common, with an increase in share-housing and people moving back into the family home to cope with rising prices and the lack of available properties,” he said. “This trend is extending to caravan parks, which are now at maximum capacity to accommodate the demand for housing."

Impact on Residents and Employers

“The shortage of homes is not only affecting residents but also putting a strain on employers and impacting the supply of services. For example, people are eager to relocate to Albany to take up job opportunities but are unable to find somewhere to live. Doctors, nurses, police, and hospitality workers are willing to address staffing shortages in the area, but securing housing for them remains a critical issue."

Hospitality Sector Facing Challenges

“Some businesses in the hospitality sector have had to reduce their opening hours as they don’t have enough staff to operate seven days a week.”

Rising Rents Across All Regions

Annually, all regions recorded an increase in their median rent.