The rental market in Perth saw a small rise in the number of available properties during May, but median rents remained stable.
According to president of the Real Estate Institute of Western Australia David Airey, it was the north eastern suburbs that saw a modest lift in stock.
“The City of Swan and Kalamunda experienced the highest percentage of new rentals coming onto the market, followed by Kwinana and Rockingham in the south west region.
“There are now almost 5,400 rental homes across the metropolitan area available for lease, and typically these rent for $440 per week for a unit or villa and closer to $460 per week for a house,” Mr Airey said.
Perth’s rental vacancy rate continues to remain oversupplied, hovering around four per cent, according to Mr Airey.