RENTAL MAR­KET COOLS DOWN

Southern Gazette (South Perth) - - Residential -

RENTAL LO­CAL rental de­mand has soft­ened with an 8% fall in re­ported leased prop­erty by REIWA mem­bers over the past four weeks, with lat­est fig­ures down 10% on the same time last year. What is ev­i­dent is the dom­i­nance of units in both rental leases and list­ings with over­all list­ings sta­ble after a 43% in­crease over the past 12 months.

It is a sim­i­lar story for the over­all Perth mar­ket with a 10% fall in leases for the four week pe­riod and 6% down on the same pe­riod last year. The rapid growth in rental list­ings across Perth over the past 2 years has sta­bilised, re­sult­ing in a 3% fall over the four weeks but still up 51% on Septem­ber 2013.

The in­crease in rental stock over the past 12 months has seen ask­ing rents fall both lo­cally and across the over­all Perth mar­ket.

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