The latest REIWA data showed that leasing activity in Perth
’s rental market soared by 17% in August, with the biggest spikes occurring in the central sub-region and the northwest sub-region – up by 19% and 17.4%, respectively.
According to REIWA president Hayden Groves, this robust figure could have been prompted by a 3% drop in the number of properties available for rent over the month.
“Perth’s rental market has certainly presented challenges for investors over the last 18 months, so it’s a good sign that in August there was an improvement in listing levels and a notable increase in activity,” said Groves.
“Although WA’s population growth has slowed in recent times, there has been a small lift in overseas migration to the state. This, combined with improved affordability in the rental market assisting tenants who are house sharing to move out on their own, has contributed to an increase in leasing activity.”
The median rent price in Perth also dropped from $380 to $375 in the three months to August.
“Despite the improvement in listing levels in August, the supply of rental stock in Perth remains above long term averages which has put some downward pressure on rent prices,” said Groves.
“Perth tenants continue to have plenty of choice in the market and are in a good position to secure a rental lease at a more affordable price.”
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out