Perth unit market up 10%

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Rental listings in Perth rose by 10% during the June quarter, according to new data from the Real Estate Institute of Western Australia (REIWA).

There were 7,448 properties for rent in Perth at the end of the June quarter—10% more than during the March quarter, the data showed.

“Given the softer sales market over the last few years and improving the rental market, some property owners are now choosing to rent their properties instead of selling,” said REIWA president Damian Collins.

Despite the increased in listings, if rental prices are in line with market expectations, landlords have a very good chance of securing a tenant, according to Collins.

Median weekly rent prices also rose by $10 to $330. It was the first time median rent value in the capital city increased since the December 2016 quarter, the data showed.

The top-performing suburbs have a median weekly rent price higher than the average, showing that there are some areas in the mid to upper segment of the Perth rental market in favour of landlords, according to Collins.

The following are the five best-performing suburbs during the June quarter:

Suburb

Median

weekly rent price

Applecross

$520

Bull Creek

$425

Mount Lawley

$485

Stirling

$450

Yangebup

$380

  Source: REIWA

 

Top Suburbs : nundah , balga , thebarton , the basin , west wodonga

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