REIWA President Damian Collins said leasing activity was up, median rents remained stable, stock levels had reduced, average leasing times were quicker and the vacancy rate had plummeted to its lowest level in more than four years.
“The rental sector is really leading the charge in the Perth property market recovery. The September 2018 quarter results are very encouraging and should provide landlords and investors with a lot of confidence,” Mr Collins said
Perth’s overall median rent price held at $350 per week for a sixth straight quarter.
There were 13,234 properties leased during the September 2018 quarter.
Tenants were a lot more active this quarter than last, with 132 suburbs across the metro area recording increases in the number of properties leased.
Activity remains high in the rental market. Provided landlords are listening to the advice of their property manager and pricing their rental in line with market expectations, they have a very good chance of securing a tenant
Slowly but surely we are moving towards parity in the Perth rental market, with improved conditions across the board meaning there is good opportunity for tenants and landlords to benefit simultaneously