Perth leasing activity jumped 32 per cent in May, after the Easter and ANZAC Day holidays slowed down the market in April, says Hayden Groves, president of the REIWA.
Perth leasing activity jumped 32 per cent in May, with REIWA data revealing that 4,915 properties were tenanted over the month.
REIWA president Hayden Groves said that although Perth’s private rental sector continued to present challenges for landlords, tenant activity was healthy in the metropolitan area.
“Leasing activity was slightly subdued in April as a result of the Easter and ANZAC Day breaks, but rebounded strongly in May to levels which now sit 17 per cent higher than they did in May 2016,” Groves said.
reiwa.com data shows that all five sub-regions experienced notable increases in activity over the month, with the North East sub-region the standout for May, increasing by 35.5 per cent.
The South West sub-regions had particularly strong months, recording an increase in leasing activity of 33.7 per cent, and the Central sub-regions saw leasing activity increase 33 per cent.
The suburbs of East Perth, Perth, and Scarborough had the highest volume of properties leased in May, said Groves.
Although rental stock levels remained high, the May data shows listings were stable: no change was recorded.
Listing levels have finally begun to stabilise,” said Groves.
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