SHARP DECLINE IN LEASES
Rental activity across the local market and Perth saw declines in reported leases for the four-week period of 36 per cent and 33 per cent respectively. Since the same time last year, the total number of leases is down 43 per cent in the area and 24 per cent for the overall market. Local rental listings have lifted over the four weeks by 11 per cent and are 28 per cent above the same period last year. The overall Perth market listings lifted 7 per cent and is 38 per cent above the same time last year. Lower demand and increases in listings have in turn pushed the median weekly rental figures down by 2 per centfor the local market.