LEAS­ING IS PAST ITS PEAK

Southern Gazette (South Perth) - - Residential -

RENTAL THE peak of leas­ing ac­tiv­ity both lo­cally and across Perth ap­pears to have passed with re­ported leases fall­ing a sig­nif­i­cant 18 per cent lo­cally and 8 per cent across Perth.

A grad­ual decline is to be ex­pected as Jan­uary-Fe­bru­ary is usu­ally the peak leas­ing pe­riod.

While lo­cal rental leas­ing soft­ened, there has also been a 3 per cent fall in prop­erty avail­able for lease, which is re­flected in the fall in the vol­umes of the top list­ing sub­urbs.

The time to lease a prop­erty in the area has moved up by just one day to 36 for the three months to Fe­bru­ary, the same as the over­all Perth mar­ket.

Go­ing against the gen­eral mar­ket trend, there was a $10 in­crease in the lo­cal me­dian house rent which has con­trib­uted a 2 per cent lift in the lo­cal over­all me­dian rent to $450 per week.

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