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After spending years in the doldrums, whereby rental prices fell by 22% peak-to-trough:
SQM Research claims that Perth rents are “in a strong recovery phase”:
After an extended housing downturn, it appears that Perth’s rental market is in a strong recovery phase. While rental vacancy rates are elevated at 2.9% the trend has been down since the start of 2017 where they peaked at 5.5% on our numbers. The lowest rental vacancy rate recorded on our numbers for Perth was just 0.5% in March 2012, which was at the peak of the Western Australian mining boom.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.