10 January 2014
Rental Movements & Activity Overview
The overall median weekly rent dropped to $460 in the December quarter, a fall of 2.1% and
$10 less per week since the September quarter. House rental prices dropped $5 per week to
$470 and units remained unchanged for the quarter. Very few areas saw an increase in rents
over the December quarter. In the Inner Sector, Vincent increased 7% to $550, in the North
West both Wanneroo North West and Wanneroo South also increased along with Rockingham
in the South West. All other areas either fell in overall median rental terms or remained
unchanged. The volume of rental leases over the December quarter dropped 5% but increased
16% annually.
The September quarter saw listings drop off 6% in the Perth Metro Region but have since
picked up with an 18% increase over the December quarter and a lift of 75% from 2,594 to
4,548 over the year. A solid increase in listings over 2013 has started pushing rents down for
the quarter and led to increased supply in all Sub-Regions. The North East Sub-Region
increased 40% over the quarter with the greatest increase seen in the Swan area (49%).
Source REIWA