Title :Regional rent data for March Created : 2010-04-19 15:26:33.0 Author Name :Communications 19 April 2010 Median rents in regional areas of Western Australia have been reasonably stable during the March quarter, however there have been some exceptions. Regional rental data released today by the Real Estate Institute of WA, show that median rents in the Pilbara are still more than triple the price of metropolitan Perth. REIWA President Alan Bourke said that median rents in Port Hedland and Karratha were $1,200 and $1,600 per week respectively. "Karratha saw median rents increase by $200 per week during the first three months of this year, while Port Hedland saw them drop back by around $250 per week" Mr Bourke said. Busselton was the only other region to show a sharp increase in median rents, with typical prices rising by around $20 from $280 to $300 per week during the quarter. Most other regional centres saw a steady rental market, with places like Geraldton-Greenough, Kalgoorlie-Boulder and Greater Bunbury recording no change. "Although the Geraldton region saw no fluctuation in its median rent, the vacancy rate of available properties did increase from 4.2 per to 5.2 per cent, a trend that may see some downwards pressure on median rents if it continues. "By contrast, the vacancy rate in Kalgoorlie-Boulder tightened from 5.8 per cent in December last year, to 4.6 per cent during the March quarter. Again, if this tend continues it may have the effect of putting pressure on rent increases in the medium term," Mr Bourke said. Although Bunbury recorded no overall change, it did see a big jump in median rents for units, which leapt from $265 per week to $290 per week during the quarter. Closer to Perth in the Peel region, Mandurah-Murray saw its median rent increase by $5 to $290 per week, while the vacancy rate dropped by 0.2 per cent to 2.3 per cent. A rate Mr Bourke described as "quite low." "The vacancy rate in the Mandurah region has tightened considerably from the 3.7 per cent it was showing in the September quarter last year. "It may be that part of the reason for this is that the more affordable rents available in Mandurah have been attractive to some Perth residents who are moving to the seaside town and are able commute by train to the city if necessary," Mr Bourke said. In Albany, the vacancy rate has grown from 3.8 per cent at the end of last year to 4.2 per cent in the March quarter. This has seen median rents drop by around $10 to $280 per week. Mr Bourke said the rental system in the regions was more sensitive to employment conditions and seasonal work opportunities.