Property News Wrap Up, November 2018

Read more for your Perth Market Snapshot for November 2018.

Perth market update November 2018

 

Perth Rental Market


Below are the most recent REIWA stats for the week ending 25 November 2018.

 

We are seeing more rental activity in Scarborough and Perth compared to last month with Baldivis also sitting amongst the top rented suburbs. REIWA has reported 6,971 properties for rent in Perth at the end of this week which is over 26% lower than the same time last year.

As at November 25, 2018 median rent is $350 per week, with the vacancy rate still sitting at 3.9%.

 

Perth Rental Market Snapshop as at 25 November 2018

 

Sales & Rental Trends

Sales activity increased by 13% compared to figures recorded 4 weeks ago, with REIWA reporting a total of 520 transactions recorded over the last week.

This is a decrease on last week’s activity, but this figure is sitting above the 2018 average of 498 sales per week.

Vacancy rates are on the decline with the last 3 months averaging at 3.3% and rental listings are 26% lower than what we saw this time last year. Take a look at REIWA’s breakdown below:

Perth Market Snapshot as at 25 November 2018


Perth’s Top Rental Suburbs

Looking at a snapshot of Perth’s rental market, the top rental suburbs are Scarborough, Perth, Baldivis and East Perth and have recorded the most leased properties. The following suburbs currently have the most available rental properties; Perth, East Perth, Maylands and South Perth.

If you have an investment property and are interested in an obligation-free chat with one of our experienced specialist Property Managers, contact us today.

 

 

 

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