Market

Perth's rental market continues to stabilise

Perth's rental market continues to stabilise

For the second quarter in a row, Perth’s rental market has continued to improve with the vacancy rate lowering to 2.5 per cent, 172 suburbs recorded an increase in leasing activity and 110 suburbs recorded an increase in median weekly rent. 

REIWA Deputy President, Lisa Joyce said Perth’s rental market appears to be building on the momentum of the latter half of 2019.

“This is very encouraging – not just for the rental market, but also for the overall property market as historically, the sales market follows the rental market during a recovery,” Ms Joyce said.

Perth house rents on the rise in positive sign for local market

Perth house rents on the rise in positive sign for local market

Signs of green shoots are emerging in Perth’s rental market, with median weekly house rents recording quarterly growth for the first time in almost five years.

The Domain Group’s quarterly Rental Report, released on Thursday, revealed weekly house rents grew 1.4 per cent to $355 during the March quarter.

“Following a prolonged period of price declines and a rise in listings, the rental market in Perth is showing signs of stability,” Domain Group data scientist Nicola Powell said.