Property News Wrap Up, August 2018

Read on for your Perth Market Snapshot for August 2018. Due to easing supply, stronger demand and more leasing activity, the rental market is showing signs of improvement.

Sale Listings Are Decreasing

According to reiwa, there were 13,594 properties for sale in Perth, which is 4% lower than 4 weeks ago and 2% lower than 1 week ago. Unit and house listings have also decreased by 2%.

Perth Rental Market

Below are the most recent reiwa stats for the week ending 2nd september 2018. We can see that the number of properties available for rent have decreased over the past month from 8,148 to 7,584 and the median rent continues to remain at $350 per week.

Vacancy rate is below 3 year averages, decreasing from 4.8% to 4.5% (down from 7.1% compared to this time last year) and rental listings are 25% lower than levels seen a year ago.

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