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Perth rental prices going through the roof

Rent prices increasing 16000646 800469808 0 0 14022953 300

Perth renters are suffering huge jumps in rent due to increased pressure from the mining sector.

Resource companies are sweeping through neighbourhoods such as Karratha and Port Hedland, often snapping up properties within one hour of them hitting the market.

The rising demand is pushing up rents, with some two-bedroom apartments going up in price by 33 per cent since August.

MLG Realty chief executive Marcus Gilmore tells The West Australian: "Up until two months ago, a two-bedroom furnished apartment would rent for between $700 and $750 per week.

"Now we are setting records every week, with rentals being leased as high as $950 per week. Prices in some suburbs are now 20 per cent higher than those expected in the Sydney CBD."

The situation highlights the struggle felt by many households and not just in Western Australia.

Rental increases have recently been reported in some suburbs in Melbourne and Sydney.

Coupled with rises in fuel costs and gas prices, many may find themselves re-evaluating their budget.

It may be worth investigating whether or not switching electricity or gas suppliers could save some much needed money on energy bills in order to ease growing rents.

Posted by Callum Fleming