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Leasing Activity Levels remain Elevated in Perth

19 Jun 2017 prowest 0 Comment

Leasing statistics in Perth lifted 32% in May 2017, with reiwa.com data revealing 4,915 homes were tenanted (leased) over the month.

President of REIWA, Hayden Groves said although Perth’s private rental sector continued to present its challenges for landlords, tenant activity was very healthy in the Perth Metro area.

“Leasing activity was slightly subdued in April as a result of the Easter and ANZAC Day breaks, but rebounded strongly in May to record levels which now sit 17 per cent higher than they did in May 2016,” Mr Groves said.

Activity in Perth’s sub-regions
reiwa.com data shows all 5 sub-regions experienced notable increases in activity over the of May, with the North East sub-region the standout for May, increasing 35.5%.

“The South West and Central sub-regions also had particularly strong months, recording increases in leasing activity of 33.7% and 33% respectively.

“At a suburb level, East Perth, Perth and Scarborough in the Central sub-region had the highest volume of properties leased in May,” Mr Groves said.

Listings for rent
Although rental stock levels remain high in Perth, data for May shows listings were stable over the month with no change recorded.

“Additionally, when compared to May 2016, the volume of properties for rent had only increased marginally by 1%, which hints to signs that listing levels have finally begun to stabilise,” Mr Groves said.

View Professionals Prowest Real Estate’s Rentals

Source: REIWA – 7th June 2017

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