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Recent data from the Real Estate Institute of Western Australia has revealed leasing activity in Perth is overall up by 32 per cent in May.
Last month, 4,915 properties were tenanted, according to the Real Estate Institute of Western Australia (REIWA).
Despite challenges in the private rental sector, REIWA president Hayden Groves says tenant activity is healthy across the metro area.
“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 per cent higher than they did in May 2016,” Mr Groves said.
All of Perth’s five sub-sections recorded growth in leasing activity. The north-east sub-region stood out, with an increase of 35.5 per cent.
“The south-west and central sub-regions also had particularly strong months, recording increases in leasing activity of 33.7 per cent and 33 per cent respectively,” Mr Groves said.
“At a suburb level, East Perth, Perth and Scarborough in the central sub-region had the highest volume of properties leased in May.”
Mr Groves said listings in May stabilised, despite high rental stock levels.
“Additionally, when compared to May 2016, the volume of properties for rent had only increased marginally by 1 per cent, which hints to signs that listing levels have finally begun to stabilise,” he said.
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