Property News Wrap Up, March 2019

Read more for your Perth Market Snapshot for March 2019.

perth property market update march19 benchmark specialist property managers

 

Perth Rental Market

 

Below are the most recent REIWA stats for the week ending 24 March 2019.

We are seeing more rental activity in South Perth and Scarborough compared to the end of last month with Perth and East Perth reaming the top rented suburbs. REIWA has reported 6,718 properties for rent in Perth which is in line was last week. This figure is higher than what was seen 4 weeks ago however is still 25% lower than levels seen a year ago.

As at 24 March 2019 median rent is $350 per week. 

 

 

perth property rental snapshot march19 benchmark specialist property managers

Sales & Rental Trends

 

Sales activity decreased by 12% in Perth this week, with REIWA reporting a total of 505 transactions recorded over the last week.

The decrease can be attributed to a 15% fall in house sales and 14% rise in vacant land sales. Unit sales however have seen a 4% rise.

Take a look at REIWA’s breakdown below: 

 

 

 perth property sales snapshot march19 benchmark specialist property managers

Perth’s Top Rental Suburbs

 

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

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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