Things are looking up - with Perth’s rental activity paving the way for our property market’s recovery.
Perth’s median rents remain at $350 per week for the seventeenth consecutive month.
The rental market showed signs of life last month, with the vacancy rates dropping to 4.5% - the lowest since April 2015, according to REIWA! Peard Group’s vacancy rate is sitting just under 4% with many of our offices recording numbers well below 2%. We put it down to our knowledge, experience and thorough procedures, which ensure we secure the best long-term tenant for our landlords’ properties.
With the market showing encouraging signs across all key indicators, property investors’ confidence in the leasing sector is improving. It’s clear that the rental market is leading Perth’s property market recovery, thanks to steady rents and stronger demands. Leasing activity increased by 17% in August – with an incredible 4,805 properties leased!
As we move into spring’s warmer weather, the property market should see an overall uplift in both rental and sales activity.
Best performing suburbs included: