More than half of suburbs in Perth saw increased leasing activity in July, according to data from the Real Estate Institute of Western Australia (REIWA).
The Perth market has gained momentum since January, according to REIWA President Damian Collins.
The top suburbs experienced 114% growth in July, the data showed.
“During the month, the suburbs that saw the biggest spike in leasing activity were Ballajura, Harrisdale, Balcatta, Mosman Park, and Dawesville which more than doubled their leasing activity compared to June,” Collins said.
Prices in Perth remained stable, with an overall median rent of $350 per week in June, according to the data.
House and unit rents recorded no change; with weekly median rent values standing at $360 and $330, respectively, according to the data.
The median rent price in 23% of Perth suburbs increased. Three of the top 10 suburbs with the highest growth were from Perth’s luxury market, with prices in Subiaco, Nedlands, and Mosman Park being over $650 per week, the data showed.
Listings for rent in Perth decreased 5% to 7,074 properties at the end of July, according to the data.
“With rental listings rising 8% last month, it is a positive sign to see it decrease in July, which suggests that landlords are listening to the advice of their property manager and have priced their rental in line with market expectations,” Collins said.
