Property News Wrap Up, April 2019

Read more for your Perth Market Snapshot for April 2019.

Perth Rental Market

Below are the most recent REIWA stats for the week ending 28 April 2019.

We are seeing more rental activity in Perth and East Perth compared to the end of last month with Baldivis and Mount Lawley becoming the most rented suburbs. REIWA has reported 7,165 properties for rent in Perth which is two per cent more than last week. This figure is higher than what was seen 4 weeks ago however is still 20% lower than levels seen a year ago.

As at 28 April 2019 median rent remains at $350 per week.

Sales & Rental Trends

Sales activity decreased by 25% in Perth this week, with REIWA reporting a total of 344 transactions recorded over the last week.

The decrease can be attributed to a 16% fall in house sales and 47% decline in vacant land sales. The overall decrease can be attributed to the Easter and ANZAC Day public holidays.

Take a look at REIWA’s breakdown below:

Perth’s Top Rental Suburbs

Looking at a snapshot of Perth’s rental market, the top rental suburbs are Mount Lawley, Ellenbrook, Maylands 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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