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White Gum Valley, Scarborough and Shenton Park are among the 10 Perth suburbs where landlords are finding tenants for their rental properties the fastest.
REIWA president Hayden Groves said that while on average it takes Perth landlords 45 days to secure a tenant for their rental, numerous suburbs across the metro area were experiencing faster leasing times.
“In White Gum Valley, for example, landlords are finding tenants for their rental properties in approximately 27 days, while in Scarborough and Shenton Park it takes 28 days, and in Pearsall and Leederville 29 days,” Mr Groves said.
Data from reiwa.com.au shows that all but one of the suburbs on the top 10 list have a median house rent price above the Perth metro median of $350 per week.
“Number six on the list, Floreat, has a median house rent of $543 per week, close to $200 more than the Perth metro average,” Mr Groves said.
“Many of these suburbs are well-established areas, typically popular with the trade-up and luxury segment of the residential market.
“This suggests tenants are finding good value in suburbs that might otherwise be considered out of their price range, and are acting fast when rentals become available for lease.”
Moreover, reiwa.com.au data shows that suburbs on the list, with the exception of Shenton Park, saw a notable improvement in average leasing days over the last year.
“The Vines and White Gum Valley had the biggest reduction in average leasing days, experiencing declines of 34 days and 26 days, respectively, between May 2017 and 2018,” Mr Groves said.
“A combination of strong leasing activity levels and declining listings has caused the pendulum to start to swing in favour of landlords. This is particularly the case in those suburbs where we are observing quick leasing times.”
The top 10
1. White Gum Valley, 27 average leasing days, $400 per week
2. Scarborough, 28 days, $395 per week
3. Shenton Park, 28 days, $450 per week
4. Pearsall, 29 days, $350 per week
5. Leederville, 29 days, $418 per week
6. Floreat, 30 days, $543 per week
7. Doubleview, 31 days, $420 per week
8. The Vines, 31 days, $410 per week
9. Manning, 31 days, $400 per week
10. Hilton, 32 days, $393 per week
This data is for the three months to May 2018.
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