SIG­NIF­I­CANT DROP IN LEASES

Southern Gazette (Victoria Park) - - Residential -

RENTAL

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.

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