Rents in Perth are growing faster than in any other capital city, and the vacancy rate is falling, putting residents in a housing crisis.
Perth’s advertised rentals have grown by 19% in the last year and by 4% in the 12 weeks leading up to September 12. Also, Perth has the lowest vacancy rate of any major city, at just 0.4%.

With the Goldfields recording a 30.8% increase in rent and rentals climbing by 24.4% in the midwest and Wheatbelt, two WA regions are among Australia’s top 10 places for rent increases over the past year.

A persistent lack of affordable housing supply was to blame for the skyrocketing rents, low vacancy rates, and an unprecedented demand for homelessness services.
In the last three months, rents increased in Sydney and Melbourne by 0.9 and 2.8%, respectively, and by 2.3% in Brisbane.
While the average rent decreased by 2.4 and 2.8% on average in Canberra and Hobart, it increased by 1.2% and 1.1%, respectively, in Adelaide and Darwin.

Tanya Steinbeck, CEO of the Urban Development Institute of Australia, stated that Western Australia needs 20,000 extra dwellings to meet anticipated housing demand over the following three years.

On Tuesday, officials from community housing organisations, the state and federal governments, and business executives convened to examine methods to increase the supply of housing in WA.
The conference examines how community housing may collaborate with businesses and the government to create more social and affordable housing.
WA Housing Minister John Carey urged community housing providers to apply for grant funds, site leases, and land donations during his speech at the conference.
In Perth and Canberra, the average weekly rent was $644; in Melbourne, it was $597; in Sydney, it was $793; in Brisbane, it was $626; in Adelaide, it was $532; in Hobart, it was $489; and in Darwin, it was $576.

Conclusion
With rents growing more quickly in Perth than anywhere else in Australia and a record-low vacancy rate, the city is experiencing a housing crisis.
This is a result of a persistent lack of housing supply. It’s resulting in continuous growth in housing prices and rental yield.