LEAS­ING DATA DE­FIES TREND

Southern Gazette (South Perth) - - Residential -

RENTAL GO­ING against the gen­eral mar­ket trend, prop­erty leased lo­cally by REIWA mem­bers was up 9 per cent over the past four weeks, while the over­all mar­ket leas­ing fell 8 per cent.

An 11 per cent in­crease in leas­ing of the dom­i­nant multi-res­i­den­tial sec­tor was the pri­mary driver of the in­crease, with most of the top 5 sub­urbs re­port­ing in­creased ac­tiv­ity.

De­spite the in­crease in leas­ing, the stock of prop­erty listed for lease has re­mained rel­a­tively sta­ble while there has been some re­cent soft­en­ing in over­all mar­ket list­ings for Perth.

The lat­est ask­ing rent data in­di­cates the lo­cal over­all me­dian rent is down 4 per cent for the year, which is the same as the over­all mar­ket.

But the lo­cal me­dian ask­ing rent for the large multi-res­i­den­tial sec­tor is off 7 per cent com­pared with the over­all mar­ket, where ask­ing rents have fallen 6 per cent across the year.

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