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Leasing increases 17% in Perth ...

Leasing increases 17% in Perth rental market

August saw leasing across Perth's rental market increasing by 17 per cent, with the number of leased properties rising in all five sub-regions. 

This is according to the findings of new data from the Real Estate Institute of Western Australia (REIWA). 

The biggest jumps were seen in the Central and North West areas, Perth Now reports, which saw increases of 19 per cent and 17.4 per cent respectively.

It was suggested that cheaper rentals are allowing share-house tenants to move out on their own, which could be a contributing factor behind the trend. 

Hayden Groves, president of the REIWA, said the surge in activity brought with it a three per cent dip in the number of properties available to rent. 

During quarter ending August, Perth's overall median rent price dropped by $5 to $375. 

"The median house price rent in Perth came in at $380 for the three months to August, while the median rent price for units was $350 per week," Mr Groves commented. 

"Perth tenants continue to have plenty of choice in the market and are in a good position to secure a rental lease at a more affordable price."

Population growth in Western Australia has slowed in recent times, according to Mr Groves, but this has been offset in part by an increase in overseas migration into the state. 

This comes in the wake of figures from CoreLogic RP Data, which found that pockets of the Perth property market have been showing signs of levelling out. 

Bateman, Hocking and Pearsall were identified as suburbs where the average difference between the asking and selling price was at its lowest. 

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