According to the latest figures from reiwa.com, the median house price for the three months to September is at $525,000 – 0.8% lower than the previous quarter. Likewise, Perth’s median overall rent eased by $5 to rest at $370 per week.
“This broke down to a median house rent at $380 per week, while the unit median rent was $350 per week,” said REIWA president Hayden Groves.
Meanwhile, leasing activity for the quarter also improved across all sub-regions, giving hope to Perth investors.
“The biggest increases in activity were felt in the North West sub-region (up 15.3%) and the South West sub-region (up 13.1%),” said Groves.
“Perth tenants are definitely taking advantage of market conditions. The improved levels of affordability are providing good opportunity for first time renters to emerge and enter the market, while those in share houses are now finding they can afford to move out on their own.”
