Perth - the city for investors
Residential property investors may find the new figures released by the Australian Property Monitors (APM) useful when looking for their next investment opportunity.
The statistics released for the March 2013 quarter show Perth as a market leader with high demand for houses and units.
The median asking price for weekly house rents in Perth rose 4.3 per cent, and look set to overtake Sydney as the most expensive of the major capitals.
The average asking price is now $490 a week for this type of rental property.
Meanwhile, unit prices in the city rose by 3.8 per cent.
While these figures spell out tougher times for tenants, they are great news for current and future investors in Perth real estate.
Perth now has 5.82 per cent gross yields for units - the highest of the major capitals - and 5.2 per cent house yields, which is second only to Brisbane with a rate of 5.22 per cent.
As Perth was the only major capital in the country to show growth in house rents, investors may find the city worth further investigation.