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The Perth rental markets set to soar

finance-advice
1 minute read

The Perth rental markets set to soar

by Emma Ryan 04 August 2020 1 minute read

New research has identified the top suburbs set to see an increase in leasing activity growth in Perth’s rental market.

The Perth rental markets set to soar
August 04, 2020

According to the Real Estate Institute of Western Australia (REIWA), leasing activity in the PerthPerth, TAS Perth, WA metropolitan area declined 9 per cent over the month, but lifted 13 per cent in the three months to July. 

“Although leasing volumes were down last month compared with July, tenants remain very active right now, as listings for rent have decreased 7 per cent compared with June and 48 per cent compared with July 2019,” REIWA president Damian Collins said. 

Top suburbs

There are five suburbs set to see an increase in leasing activity growth, the REIWA data found.

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1. Leeming

2. Victoria Park

3. StirlingStirling, WA Stirling, SA Stirling, ACT

4. St James

5. Halls Head

Pricing

Mr Collins shared that Perth’s overall median rent price was stable in the three months to July, holding at $350 per week.  

“In terms of houses and units, this broke down to $370 per week for houses and $340 per week for units – up $5 per week compared with June,” he said.

“According to reiwa.com data, Applecross saw an 8.2 per cent increase to $595 per week, which was followed by South Perth (up 4.2 per cent), Wellard (2.9 per cent), Cloverdale (up 2.9 per cent) and BelmontBelmont, QLD Belmont, VIC Belmont, NSW Belmont, WA Belmont, QLD (up 2.9 per cent).  

“With the WA property markets returning towards normality, now is the time to consider the current emergency period tenancy legislation for residential and commercial properties and allow it to end at the current proposed time of 29 September 2020.” 

The Perth rental markets set to soar
The Perth rental markets set to soar
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About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]Read more

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