RENTALS STILL UP ON LAST YEAR
REIWA members reported total properties (houses and units) leased for the four-week period increased to 557, unchanged in terms of percentage over the past four weeks and is 20 per cent higher than the same time last year. The Perth metro region remains virtually stable but still remains 11 per cent above the same time last year. Listings in the area have decreased by 3 per cent and are 48 per cent higher than the levels seen the same time last year. The overall market has seen listings increase across the four weeks by 3 per cent and are 38 per cent above the same time last year. The median weekly rent for the area is at $420/week overall, which is $30/ week lower than the three months to July, 2014. Similarly, the overall market has seen a $30/week fall in rental medians, with the current overall median rent at $420.