By XAVIER SMERDON
THE cost of renting a property in Wyndham has remained affordable while the price of living in other suburbs continues to rise, according to new figures.
According to statistics released by RUN Property, Australia’s largest metropolitan property agency, Wyndham Vale is the only suburb in the municipality that has experienced any rise in rent prices worth mentioning.
The average cost of renting in Wyndham Vale has climbed to $292.86 a week, just $5.34 more than last year’s average.
Wyndham Vale was the only area from Wyndham that made the list of 45 suburbs.
When compared to Armadale, which has seen an increase of $36.87 a week in the average cost of renting, Wyndham appears to be travelling smoothly.
Star has previously reported about the lack of rental properties in Wyndham making it difficult for some people to find a home.
RUN Property CEO, Rob Farmer, said rising rents could actually be a good thing for Wyndham, as it encourages more people to buy investment properties.
“Rental growth has been strong and consistent over the past 18 months, so it surprises me that more investors are not taking advantage of the dip in sales activity to secure their next bargain investment,” Mr Farmer said.
“Many properties are being re-let during tenants’ vacating periods, so they never actually become vacant.
“A good property manager will advertise the property for rent as soon as the existing tenant gives notice so that the landlord does not miss any income.”
Mr Farmer said that tenants in places like Wyndham could be “staying put” because research continued to show that rent increases are greatest when tenants move out and the property is advertised for lease.
