Property News Wrap Up, January 2019

Read more for your Perth Property Market Snapshot for January 2019.

Perth Rental Market

Below are the most recent REIWA stats for the week ending 20 January 2019.

We are seeing more rental activity in East Perth and Maylands compared to the end of 2018 with Scarborough and Perth sitting as the top rented suburbs. REIWA has reported 7,187 properties for rent in Perth which is 3% higher than what was recorded at the end of 2018 and 25% lower than a year ago.

As at 20 January 2019 median rent is $350 per week, with the vacancy rate still sitting at 2.8%.

Sales & Rental Trends

Sales activity increased by 16% compared to figures recorded 4 weeks ago, with REIWA reporting a total of 493 transactions recorded over the last week.

This increase can be attributed to a 20% increase in house sales and a 23% increase in unit sales, despite seeing a decrease in vacant land sales by 26%.

Vacancy rates are on the decline with the last 3 months averaging at 2.8% and rental listings are 25% lower than what we saw this time last year. 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 East Perth, Maylands, Perth and Scarborough. The following suburbs currently have the most available rental properties; East Perth, Perth, South Pert and Bentley

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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