SIGNIFICANT DROP IN LEASES
RENTAL leasing fell both locally and across the overall Perth market, with reported leases for the four-week period down 26 per cent and 7 per cent respectively. Since the same time last year, the total number of leases is down a significant 36 per cent in the SouthernGazette area and 8 per cent for the overall market. Local rental listings have lifted over the four weeks by 9 per cent and are 37 per cent above the same period last year. Again it is a similar story for the overall Perth market, with listings up 7 per cent and now 40 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 5 per cent for the local market and 6 per cent overall.