Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Rental market

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Over the past five years, "strategic leasing initiatives" have saved taxpayers an estimated $80 million on office rental costs in the Sydney CBD.
Property NSW CEO, Brett Newman, said effective management of the portfolio, a combination of moving from premium buildings and negotiating below-benchmark new deals on CBD office space, had delivered savings for the Government.
“Prime Gross Effective office rents in Sydney’s CBD have increased by more than 55 per cent in the last three years and are forecast to increase significantly over the next three years amid constrained supply,” Mr Newman said 
The Government's plan has involved moving out of premium buildings and into A Grade buildings as well as increasing its presence in the Southern CBD.
Mr Newman said the Government has moved from paying around 15 per cent above the Prime Industry Benchmark in 2014 to more than 30 per cent below in 2018."
The NSW Government is the State’s largest tenant, occupying more than one million square metres of office space across metropolitan and regional NSW.
Property NSW is has made progress on reducing CBD office space by a goal of 100,000 sqm by 2021.
It has made a reduction of more than 70,000 sqm to date.
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j.ballantyne1990-6AQqhLzZaK

NSW Government saves $80 million on Sydney CBD leases

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In Brisbane, median weekly house rents remained stable over the September quarter and year at $400 per week, according to the latest rental report from Domain.
Unit rents increased marginally by 1.4% over the quarter and year to reach $375 per week.
The report found that Brisbane provided the third strongest gross rental yields for houses and fourth for units compared to all other Australian capital cities.
House gross rental yields improved by 0.6% over the quarter to 4.62% despite an annual decline of 0.6%.
Unit gross rental yields increased by 0.7% from the June quarter and 3.9% annually to 5.12% - the strongest annual increase in more than six years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20brisbane.jpg" alt="">
Domain Senior Research Analyst, Dr Nicola Powell said:
"Apart from a couple of fluctuations, tenants in the sunshine state have enjoyed four years of steady house rents at $400 a week - this is the longest period of stability in Brisbane’s rental history.
"The unit market appears to have had a minor turnaround, with rents increasing for the first time in two years.
"Brisbane’s advertised rental stock slipped as a result of the unprecedented inner-city unit development slowing.
"The state experienced a decade high level of internal migration, with Brisbane becoming one of Australia’s fastest growing city populations.
"All signs point to a broad tightening of the rental market.
"We may also see Sydney and Melbourne investors, dissatisfied with falling property prices, looking north for better yields and growth prospects, as well as seeking lower entry-prices and holding costs."
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Longest period of stability in Brisbane's rental history: Domain

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Perth retains its title as the most affordable capital city rental market with no changes to house and unit rents over the quarter or year, according to the latest rental report from Domain.
The report found Perth’s median house rent is sitting at $350 while units are also flat at $300 per week.
This is the sixth consecutive quarter of flat unit price movement for the capital city.
Gross rental yields for houses continued to improve over the quarter and over the year at 4.26%.
Gross rental yields for units declined over the quarter to 4.58% but continued to improve year-on-year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20perth.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell said:
"Perth tenants will find themselves with less rental choice as advertised rental listings have been dwindling for over a year.
"A broader tightening of the rental market appears to be occurring due to a slowdown in dwelling commencements and investor activity remaining relatively stagnant.
"This has seen tenants absorb the existing rental stock.
"Rental prices have been deteriorating since 2014 following the state’s challenging economic conditions.
"However, this is the first time both property types have displayed a more positive sign with rents holding steady over the quarter and year." 
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Positive signs for Perth as rental prices holding steady: Domain

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Despite house rents increasing by 4.2% over the year, Adelaide remained the second most affordable city for tenants (behind Perth), according to the latest rental report from Domain.
The report found that rental prices held steady over the quarter at $375 per week.
Adelaide remains the most affordable capital city for units with median weekly rents remaining at $300 per week - up 1.7% year-on-year.
Gross rental yields for houses declined over the quarter and year to 4.47%.
For units, gross rental yields strengthened by 0.1% over the quarter and 2.1% over the year to 5.19%. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20adelaide.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell said: "Adelaide’s rental market appears to be tightening with advertised stock levels declining.
"If rental supply continues to track lower in the coming months it will create greater competition between tenants, which will drive up asking rents. 
"Despite rental prices rising, Adelaide remains one of the more affordable rental markets.
"For investors, the city offers more favourable yields relative to the other Australian capital cities."
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Adelaide rental yields favourable for investors: Domain

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Canberra’s median weekly house rent held steady at the record high of $550, which was first reached in the June quarter, according to the latest rental report from Domain.
The report found that Canberra remains the most expensive city to rent a house, along with Sydney.
House rents increased by 8.4% over the year, the second highest jump of all capital cities.
Unit rents in Canberra were flat at $450 per week, a record that has been maintained for the entire calendar year.
With an annual increase of 7.1%, Canberra achieved the second highest growth in unit rents of all capital cities year-on-year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/canberra.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell noted: "Rental prices may not have risen further over the quarter, but Canberra has experienced one of the strongest annual growth rates of all the capital cities.
"Supply continues to tighten with house rental numbers now at a five year low and unit rental supply hitting a two-year low.
"Rising rates and investor land tax are likely weighing heavily on some investors - this could be driving some to sell, raise asking rents or opt for higher yielding options such as short-term leases.
"Canberra has seen a rise in short-term rental demand, with recent tourism data revealing overnight accommodation has risen in the past year.
"All these factors are placing additional pressure on the rental market."
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Canberra's tightening rental supply leading to rate rises: Domain

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Darwin house rents held steady over the quarter, but declined over the year by 3.8% to $500 a week, according to the latest rental report from Domain.
The report found that unit rents in Darwin experienced no quarterly or annual change, holding steady at $400 per week.
This is the first time in four years unit rents have not declined over the quarter and year.
Darwin continued to offer investors the highest unit gross rental yields at 6.08%, the only Australian capital city to achieve a yield above 6%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20darwin.jpg" alt="">
"For investors, a softening sales market continues to improve unit gross rental yields, almost pushing them back to the record highs achieved in 2004 and 2005," said Domain Senior Research Analyst, Dr Nicola Powell.
"A turnaround in rental demand for the city is largely dependent on economic growth, jobs creation and an improved population growth.
"The Northern Territory Government has announced a revitalisation of Darwin’s CBD with an aim at enhancing liveability, and offering key workers financial incentives to relocate.
"The impacts from the initiatives remain to be seen but the long-term approach to addressing population growth are likely to support rental demand."
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Darwin unit rentals stabilise after four years of decline: Domain 

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Median weekly house rents in Sydney remained steady over the September quarter and year at $550 per week, according to the latest rental report from Domain
The report found, house rents have now flatlined for a year and a half while unit rents declined by 0.9% over the quarter and year - this is the first time unit rents have declined annually since records began in 2004. 
Although gross rental yields in Sydney remain low relative to the other capitals, declining property prices have seen house and unit yields experience the strongest annual improvement since 2012.
Sydney unit rents have now declined from an all time high in response to an increase in rental supply.
Domain Senior Research Analyst, Dr Nicola Powell said: "Advertised rental stock is currently at a new record high, with the growth in unit rentals hitting a pace not seen in six years. Tenants will find they have considerably more houses and units to choose from than this time last year."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20sydney%20.jpg" alt=""> If advertised stock levels continue to track higher, it should put downward pressure on rents.
Although strong levels of migration, combined with the barrier of high house prices, may help to counterbalance this. "Current conditions however, will make landlords think twice when deciding to raise rents. It is highly likely we will see more incentives at play, with landlords keen to attract and retain good tenants," said Powell.
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Sydney unit rents decline for the first time in 14 years: Domain

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Perth’s rental market has improved, with positive results observable across all key market indicators, According to new reiwa.com data for the September 2018 quarter.
REIWA President Damian Collins said leasing activity was up, median rents remained stable, stock levels had reduced, average leasing times were quicker and the vacancy rate had plummeted to its lowest level in more than four years.
“The rental sector is really leading the charge in the Perth property market recovery. The September 2018 quarter results are very encouraging and should provide landlords and investors with a lot of confidence," Mr Collins said.
Median rent price
Perth’s median rent price across houses and units held at $350 per week for a sixth straight quarter.
Reiwa.com data shows this is the longest period of stable rents the Perth rental market has experienced.
Additionally, when looking at houses reiwa.com data shows the median house rent increased $10 this quarter to $360 per week.
Reiwa.com analysis shows 105 suburbs across the metro area saw their median rent increase during the September 2018 quarter.
"The five best performing suburbs for overall rent price growth were Kallaroo (up 39.5 per cent to $530 per week), City Beach (up 25.9 per cent to $850 per week), Gwelup (up 24.5 per cent to $623 per week), Cottesloe (up 23.5 per cent to $605 per week) and Alexander Heights (up 21.9 per cent to $390),” Mr Collins noted.
Other top performers were Connolly, Inglewood, Ashby, Beaconsfield and Wembley.
Leasing activity
There were 13,234 properties leased during the September 2018 quarter.
Reiwa.com data showed this represented an increase of 5.2 per cent compared to the June 2018 quarter.
“Tenants were a lot more active this quarter than last, with 132 suburbs across the metro area recording increases in the number of properties leased,” Mr Collins said.
Reiwa.com data shows the five suburbs with the highest volume of properties leased during the quarter were Perth (346), East Perth (343), Scarborough (319), Baldivis (243) and Maylands (235).
South Perth, Rockingham, West Perth, Rivervale and Midland were also standout suburbs.
Mr Collins is of the opinion, "provided landlords are listening to the advice of their property manager and pricing their rental in line with market expectations, they have a very good chance of securing a tenant.”
Listings for rent
There were 7,286 properties for rent in Perth at the end of the September 2018 quarter.
Reiwa.com data shows that these stock levels represent an 11.9 per cent drop compared to the June 2018 quarter and a 25.1 per cent drop compared to last year’s September quarter.
Mr Collins stated, “This sharp decline can be attributed to a combination of leasing activity improving and new dwelling commencements slowing. With less new properties coming onto the market, rental stock is being absorbed at a quicker pace, which has put downward pressure on listing volumes.”
Average leasing time
It took landlords 46 days on average to find a tenant for their rental during the September 2018 quarter.
According to reiwa.com data this is one day faster than the June 2018 quarter and eight days faster than the September 2017 quarter.
Mr Collins said that this was due to, “a combination of increased tenant activity and lower listing levels has had a positive impact on average leasing times for landlords, with tenants needing to act quicker to secure a rental.”
Vacancy rate
Perth’s vacancy rate declined to 3.9 per cent during the September 2018 quarter, the lowest level Perth has experienced since the March 2014 quarter, according to reiwa.com data.
Since key market indicators improved during the September quarter, Perth’s vacancy rate has now fallen below the 10 year average.
Mr Collins concluded, “slowly but surely we are moving towards parity in the Perth rental market, with improved conditions across the board meaning there is good opportunity for tenants and landlords to benefit simultaneously.”
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Rental market leading Perth's property market recovery: REIWA

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Hobart experienced the highest annual growth in weekly house rents with a 10.8% increase to $410 per week, according to the latest rental report from Domain.
The report found, Hobart was the only capital city to record double-digit rental growth.
Unit rents however declined by 2.8% over the quarter to $350 per week, but remained strong with an annual jump of 9.4%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20hobart.jpg" alt=""> "The significant momentum that built in Hobart’s competitive rental market over the past two years appears to be easing," said Domain Senior Research Analyst, Dr Nicola Powell.
"Available rental stock has marginally increased, which is anticipated as the city has seen an increase in housing developments alongside heightened investor activity.
"Despite recording the strongest annual rate of growth of the Australian capital cities, the pace of growth is now slowing."
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Hobart records double-digit housing rental growth: Domain

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Median weekly rents remained flat for the quarter at $430 for houses and $410 for units, according to the latest rental report from Domain.
The report found, Melbourne house rents climbed 2.4% higher over the year and unit rents 2.5%.
However, rental price growth is less than half of the annual growth over the same period in 2017.
House gross rental yields improved over the quarter to 3.13%, however, remained the lowest across all of the Australian capital cities.
Melbourne unit gross rental yields jumped by 0.8% for the quarter to 4.32% — the highest quarterly growth of all Australian capital cities. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20melbourne%20.jpg" alt="">
Domain Senior Research Analyst, Dr Nicola Powell said, "rental prices continued to rise on an annual basis, but the pace of growth is less than half of what it was over the same period in 2017".
"Despite record levels of apartment development and investment activity, total advertised stock volumes have failed to increase," she said. 
"The number of advertised unit rentals has dwindled for four consecutive years and house rentals are also tracking lower over the year.
"The unprecedented influx of new residents from overseas and interstate has placed additional demand on the rental market, which has lead to heightened competition for rental accommodation.
"The impact from the Victorian Government's recent rental reform is also yet to be seen.
"It could have an adverse effect on Melbourne’s rental landscape, with landlords opting for shorter-term leases or selling up.
"However, the overall impact on the rental market is likely to be minor."
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