State of the rental market.

Australian Property Monitors recently released their December Quarter Capital City Rental Report, which showed that Perth rents rose significantly in the last quarter of 2012.

Perth home rentals rose by 4.4% over the December quarter to $470 per week. Unit rentals rose by 2.7% to sit at $400 per week.  Looking at 2012 as a whole, house rentals increased significantly to 17.5%, with units following at 14.3%.

According to the report, this rise puts Perth “on pace to overtake Sydney as the most expensive city to rent a home”.