Mirabile dictu: Perth rental market tightens!

The Real Estate Institute of Western Australia (REIWA) has released its rental data for the September quarter, which reveals that Perth’s rental market has tightened, with the vacancy rate falling to 2.5%:

This is yet to translate meaningfully into rents, however, which remained flat over the past three quarters; although they have risen $10 for both houses and apartments over the year, according to REIWA.

SQM’s rental vacancy data also recorded a big fall across Perth, with the vacancy rate falling from a peak of 5.2% in mid-2016 to 2.4% as at October:

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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.