Some ex­cep­tions to leas­ing trend

Western Suburbs Weekly - - Residential -

WHILE the Perth rental mar­ket recorded a de­cline in leas­ing ac­tiv­ity in the June quar­ter, some ar­eas bucked the trend.

Ac­cord­ing to reiwa.com, the num­ber of leased prop­er­ties in the over­all Perth mar­ket for houses and units de­clined 5.2 per­cent, but the North East sub-re­gion recorded a no­table 4.7 per­cent in­crease.

Pres­i­dent Hay­den Groves said there were also signs of strength in the South West sub-re­gion, with ac­tiv­ity lift­ing 0.2 per­cent.

When it came to in­di­vid­ual sub­urbs, Perth's top per­former was As­cot in the Cen­tral sub-re­gion with 88.2 per cent growth in leas­ing ac­tiv­ity.

Rental af­ford­abil­ity for ten­ants con­tin­ued to im­prove over the June quar­ter, with the over­all Perth me­dian rent for houses and units drop­ping $15 to $380 per week.

There was some pos­i­tive news for in­vestors, with the me­dian rent hold­ing steady in the North East and South East sub-re­gions and some sub­urbs in the metropoli­tan area record­ing rental growth.

Bur­swood in the Cen­tral sub-re­gion and Pad­bury in the North West sub­re­gion had the great­est growth, with the me­dian rent in­creas­ing $37 to $510 per week and $415 re­spec­tively.

Ac­cord­ing to reiwa.com data, the time taken to lease a prop­erty in Perth in­creased by one day.

“Av­er­age leas­ing days for the three months to June sits at 50 days, which isn't sur­pris­ing given that the vol­ume of rental prop­er­ties avail­able for lease on the mar­ket pushed past 11,000 in the three months to June,” Mr Groves said.

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