MORE STOCK TO LEASE

Southern Gazette (South Perth) - - Residential -

RENTAL

THERE was an 11 per cent in­crease in lo­cal leas­ing ac­tiv­ity over the past four weeks af­ter the April hia­tus but rental leas­ing has slowed, with the fig­ure down 12 per cent on the same time last year. It was a dif­fer­ent story for the over­all mar­ket where leas­ing in­creased 19 per cent over the pe­riod and was up 7 per cent on last year. Look­ing at the stock of prop­erty for lease, this had been climb­ing steadily for over two years, with both the

area and over­all mar­ket see­ing a 5-6 per cent in­crease in re­cent weeks and 31 per cent and 40 per cent re­spec­tively over the year. Re­cent de­clines in lo­cal rents have been ar­rested with the lat­est fig­ures for over­all me­dian rent in­creas­ing marginally to $450 per week for the three months to April. The av­er­age time to lease a prop­erty lo­cally has fallen marginally to 35 days in the three months to April.

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