Rental boom in WA sees rents rise by more than $1000 a week

Posted: 16th Feb

The booming demand for rental properties in Western Australia’s Pilbara has seen rents rise by more than $1000 a week as mining companies advertise for new jobs.

The region, including the mining towns of Karratha, Port Hedland, Tom Price and Newman, has seen an explosion of demand this year, agents say, with FIFO workers and those under longer-term contracts looking for rentals.

Domain rental data shows Port Hedland’s rents rose by 23.5 per cent between December 2019 and December 2020, making it the biggest rise across the state.

Karratha’s weekly rents rose by 16.7 per cent, seeing it make the top three areas of rises in the December quarter.

“Demand is intense to the point where it’s just gone crazy,” Milestone Realty Dalkeith Nedlands Jason van Straalen told Domain. “Demand outstrips supply by 10 to one.”

Mr van Straalen said rental prices had returned to boom times like those of 2012, with rentals now reaching thousands of dollars each week.

They had previously struggled to get $400 or $500 a week for properties after the mining bust hit the area in about 2015.

 

Access jobs in WA mining towns at:

https://www.karrathalocaljobs.com.au/

https://www.hedlandlocaljobs.com.au/

https://www.australianfifominingjobs.com.au/

 

Source: The Domain - https://www.domain.com.au/news/rental-boom-in-wa-sees-rents-rise-by-more-than-1000-per-week-1026405/