One-minute data: Perth’s rental market shows signs of easing

Date:

Share post:


Perth’s rental market is showing slight signs of easing, with the vacancy rate inching up in July. 

Here’s your one-minute wrap on the latest REIWA analysis.

The headline figure:

Perth’s vacancy rate rose to 0.6 per cent in July 2024, up from 0.5 per cent in the previous three months.

0c48a103 d94f 4e26 b86f 03b6e13e12a3

The fast five:

  • Perth’s vacancy rate has been below 1 per cent since August 2022.
  • The rate hit a record low of 0.4 per cent in March 2024.
  • A balanced market typically has a vacancy rate between 2.5 and 3.5 per cent.
  • Rent prices are showing periods of stability.
  • Rental listings are increasing, albeit slowly.

What else you need to know:

The last time Perth’s vacancy rate was at a balanced 2.5 per cent was in September 2019.

Despite the slight increase, the current rate is still well below what’s considered balanced.

REIWA President Joe White says:

“This month’s figure is a move in the right direction, but it is still very low and vacancies are still filling quickly, particularly for properties in the more affordable price brackets.”

Tap into more data here.



Source link

Nicole Lambert
Nicole Lambert
Nicole Lamber is a news writer for LinkDaddy News. She writes about arts, entertainment, lifestyle, and home news. Nicole has been a journalist for years and loves to write about what's going on in the world.

Recent posts

Related articles

City exodus: four in ten eye a move to regional Australia

Four in ten city residents are now considering a move to regional Australia, as new research reveals...

‘Mum and Dad’ investors the key to affordable housing

Small-scale property investors could play a big role in addressing Australia’s affordable housing crisis, according to new...

UK renters face 18% hike by 2029 amid housing supply challenges

Rents in the UK are projected to increase by nearly 18% over the next five years, according...

How I Sold It: from plain to powerhouse

By the time the marketing campaign for 57 Goldsmith St, Elwood, was complete Chisholm & Gammon Managing...

Changing perceptions, new strategies: how businesses can help property managers

Property Managers are no longer the young and inexperienced “poor cousins of sales” and neither are they...

Ray White Northern Beaches expands with ninth office

David Walker and Charles Caravousanos have expanded their footprint on Sydney’s Northern Beaches, acquiring Hunter Estate Agents...

NAR’s REACH program crowned top PropTech accelerator

The National Association of Realtors’ (NAR) REACH technology growth program has been named PropTech Outlook’s 2024 Accelerator...

New home sales lift as market rebounds

New home sales jumped in October, with an 8.8 per cent increase compared to September, signalling a...