Residential leasing activity levels remain elevated in Perth

Leasing activity in Perth lifted 32% in May, with reiwa.com data revealing 4,915 properties were tenanted over the month.

Tenant activity was very healthy in the metro area, the REIWA President Hayden Groves said although noting Perth’s private rental sector continued to present its challenges for landlords.

“Leasing activity was slightly subdued in April as a result of the Easter and ANZAC Day breaks, but rebounded strongly in May to record levels which now sit 17% higher than they did in May 2016,” Groves said.

Data from reiwa.com shows all five sub-regions experienced notable increases in activity over the month, with the North East sub-region the standout for May, increasing 35.5%.

“The South West and Central sub-regions also had particularly strong months, recording increases in leasing activity of 33.7% and 33% respectively.

“At a suburb level, East Perth, Perth and Scarborough in the Central sub-region had the highest volume of properties leased in May,” Groves said.

Although rental stock levels remain high in Perth, data for May shows listings were stable over the month with no change recorded.

Groves said there were hints that listing levels had finally begun to stabilise.