Positive signs for Perth as rental prices holding steady: Domain

Perth retains its title as the most affordable capital city rental market with no changes to house and unit rents over the quarter or year, according to the latest rental report from Domain.

The report found Perth’s median house rent is sitting at $350 while units are also flat at $300 per week.

This is the sixth consecutive quarter of flat unit price movement for the capital city.

Gross rental yields for houses continued to improve over the quarter and over the year at 4.26%.

Gross rental yields for units declined over the quarter to 4.58% but continued to improve year-on-year.

Domain Senior Research Analyst, Dr Nicola Powell said:

"Perth tenants will find themselves with less rental choice as advertised rental listings have been dwindling for over a year.

"A broader tightening of the rental market appears to be occurring due to a slowdown in dwelling commencements and investor activity remaining relatively stagnant.

"This has seen tenants absorb the existing rental stock.

"Rental prices have been deteriorating since 2014 following the state’s challenging economic conditions.

"However, this is the first time both property types have displayed a more positive sign with rents holding steady over the quarter and year."