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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Rental prices across Australia’s capital cities largely remained flat over the September quarter with Brisbane the only city to record growth in median unit rents.
Sydney and Hobart reported a decline in unit rents, according to <a href="https://www.domain.com.au/group/agent-news/domains-rental-report-june-2018/" target="_blank">Domain’s Quarterly Rental Report</a>.
Hobart was the standout performer over the year, reporting the highest annual rent growth for houses and units, followed by Canberra.
House rental yields improved annually in Sydney, Perth and Canberra.
Unit rental yields improved annually in all capital cities but Hobart.
"Availability of rental stock, investor activity and migration flows have created varied markets across the country. Looking just at the September quarter, house rents remained flat in every capital city," said Domain Senior Research Analyst, Dr Nicola Powell.
"While annually, growth has slowed relative to the year prior, primarily driven by stalling Sydney and Melbourne markets.
"Hobart continued to outperform other Australian capital cities, recording double digit annual rental growth for houses and strong growth for units. Canberra also saw substantial growth, with house and unit rents increasing 8.4% and 7.1% respectively. This growth has meant Canberra house rentals are now as expensive as Sydney. 
"While unit rents in Sydney have started to decline, house rents remained at an all time high. However, if market conditions continue with increased supply, we could however see some relief for tenants."
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%201.jpg" target="_blank">Click here to enlarge:</a>
<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/DOMIAN%20NATIONAL%201.jpg" alt="">
Sydney median unit rents declined over the quarter and year, as rental supply hit an all time high. 
Melbourne house and unit rental prices held steady for the quarter, slowing the pace of annual growth to an almost four-year low for houses and three-year low for units. 
Brisbane was the only capital city that had unit rents increase over the quarter and year, while median house rents remained flat. 
Canberra house rents remained on par with Sydney, making the two cities the most expensive for tenants. House and unit rents experienced the second strongest annual growth of all capital cities. Unit gross yields reached a record high. 
Hobart was the strongest performing capital city, with a 10.8% annual increase in house rents and 9.4% increase in unit rents. 
Perth house and unit rents experienced no change over the year. This was the first time in almost five years house rents did not decline annually. Unit rents have now remained flat for a year and a half. 
Perth remained the most affordable city to rent a house, and shares the title with Adelaide for the most affordable unit rents. 
Adelaide house and unit rents remained flat for the quarter but continued to record annual growth.  
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%203.jpg" target="_blank">Click here to enlarge:</a>
<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/DOMIAN%20NATIONAL%203.jpg" alt=""> Rental Yields Rental yields have increased nationally by 0.4% over the past 12 months to 3.76% for houses. Units also increased 1.5% over the year to 4.29%. For investors, Hobart continued to provide the best gross rental yield for houses at 4.94%, and Darwin and Canberra provided the highest gross rental yields for units at 6.08% and 5.95% respectively.
Sydney and Melbourne continued to record the lowest gross rental yields for houses and units, although have begun to improve given the softer sales market.
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%202.jpg" target="_blank">Click here to enlarge:</a>
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%202.jpg" target="_blank"><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/DOMIAN%20NATIONAL%202.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%204.jpg" target="_blank">Click here to enlarge:</a>
<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/DOMIAN%20NATIONAL%204.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Brisbane only capital with quarterly rise in unit rents: Domain

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Private renters, particularly older and low-income households, say uncertainty over their leases and affordability pressures are a major issue in the private rental sector, according to a report released by the Bankwest Curtin Economics Centre (BCEC).
Associate Professor Steven Rowley, from the School of Economics, Finance and Property at Curtin University and author of the one of the reports, said the Australian private rental sector appeared to be delivering quality and affordable housing for most renters, but was failing those on low incomes.
The report also found that for Australians aged 55 and over, 63% are paying more than 30% of their income on rent. 
However some positives were found with dwelling quality generally perceived as good, the relationship between the landlord and tenant often excellent and "strong feelings of home" in the sector.
Of the single parents surveyed, 36% felt they suffered discrimination when applying for a new rental property often having to apply for multiple rental properties before being successful.
"This same group was overwhelmingly the least likely to feel comfortable in their home once they found rental housing,” Rowley said.
These findings are in line with a second report also launched by the BCEC, which found older Australians reported facing a lack of tenure security despite 41% looking to sign long term leases and another 23% open to a lease extension if it was available.
That report which centered on assisting older WA renters was authored by Associate Professor Helen Hodgson, from the Curtin Law School.
“Our research found many older renters have only been in their current home for up to three years with 41% of older Australian renters forced to leave their previous rental property due to factors beyond their control,” Hodgson said. 
“This insecurity is exacerbated by a lack of affordable, and suitable, housing options for older renters, coupled with an inadequacy of the aged pension and Commonwealth Rent Assistance payments.”
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Rental uncertainty and affordability troubling Australian renters

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The Perth market is showing signs of improvement, says REIWA.
The vacancy rate has dipped to 4.5% - the lowest since April 2015, says REIWA President Hayden Groves.
“What we are seeing is a steady yet healthy improvement in tenant activity,” Groves said.
“Steady rents, easing supply as listings for rent continue to fall and stronger demand with more leasing activity all point to the rental market leading Perth’s property market recovery.”
REIWA’s data also shows that leasing activity is up 17% in August, while the media rent remained steady for the 17th consecutive month at $350 per week.
Groves said that the rental market across the city is stabilising, while he suburbs of Leederville, Glendalough and Secret Harbour experienced the most significant growth in leasing activity during August.
“Leederville had more than double the amount of properties leased from July to August, with the volumes increasing by an impressive 18%,” Groves said.
“Typically, as we move into these warmer spring months, the property market should see an overall uplift in activity, and historically the sales market follows the rental market during a recovery.”
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Perth rental market improves in August: REIWA

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The typical Australian landlord is an owner occupier, at midlife, in a household with two incomes.
Some 72% own just the one rental property.
They don't see themselves as landlords, but rather investors.
Estate agents manage around 75% of these rental properties, an unusually prominent role compared to overseas practice.
The shift from finding rentals in agency office windows has long shifted online and now new technological innovations are being slowly embraced by agents, given raised demands from tenants and some landlords too.
These digital platforms are offering efficient ways at dealing with tenants. 
The Property Connect website offers the means for online move-in dates, lease terms, and even seek competitive rental pricing through LiveOffer. 
The Trustbond website seeks to replace the cash rental bond with a surety certificate. 
Other tech enabling advancements address scheduling property inspections, collecting rents and and organising repairs. 
There's the prospect of tenants across Australia getting their own online profile promoting their worthiness to landlords.
These days tenants are renting for longer periods with around a third of private renters staying in the rental market for a decade or longer.
Recent research has the market demographics changing quite significantly.
Traditionally it was transitional housing tenure for young people in the time between leaving the family home and becoming home owners, but now the market has moved to catering for many more private renters at mid-life. There are more private renters with children.
There has been an increase in both lower and higher income households seeking out the private rental market.
Interestingly, about one in eight landlords are themselves a private renter.
A new report from the Australian Housing and Urban Research Institute noted the biggest change in landlord ownership was in the financing with owners of rental properties relying more heavily on debt.
This affirms the ultimate purpose of landlords is their financial returns. 
These are currently being challenged, so it will be interesting to see if the landlords stay as dwelling values fall and gross rental yields sit close to historic lows.
CoreLogic has tracked rents for over a decade and the latest 0.4% annual fall in Sydney rents for the year to August was the largest decline on record.
Gross rental yields remain low in Sydney at 3.21%.
The total returns from residential housing are not looking "so attractive", CoreLogic research analyst Cameron Kusher recently noted.
Across the capital cities, total returns are at 0.8%, with total returns in Sydney actually falling by 2.5% in the weakest result since 2009.
After dwelling values fell in Sydney over the past year, it highlights that capital growth largely dictate total investor returns in Sydney. 
Kusher suggests given the decline in returns and an expectation that returns will continue to shrink, investors could seek out housing in other regions of the country where total returns remain positive.
It sits at 6.6% for the combined regional markets across Australia and 6.7% for total returns in regional NSW.
But Kusher warns these returns are anticipated to be far inferior to those recorded over recent times in Sydney.
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

Lower and higher income households seeking out private rental market

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Hobart has seen the highest annual growth in median weekly house rental prices with a 13.9% increase to $410 per week, despite a decline over the quarter of 2.4%, according to the latest report from Domain.com.au.
Unit rents increased in Hobart to $360 per week, a 2.9% quarterly jump and a 12.5% annual increase, recording the highest increase both quarterly and annually across all capital cities. Domain data analyst, Nicola Powell says that annual house rents continue to rise with 2018 providing the strongest surge in rental prices in the city’s history.
"Although Hobart did see a decline over the quarter, it is likely to be a pullback from the seasonally strong first three months of the year," Powell said.  "In under two years, Hobart has moved from being one of the most affordable capital cities in Australia for tenants to now trailing behind Perth, Adelaide and Brisbane.
"Unit rental prices have followed a similar pattern remaining more expensive than Adelaide and Perth, as well as closing the price gap on Brisbane. "These conditions are indicative of the current affordability issues facing Hobart. While supply continues to deplete, the substantial declines in rental listings appear to have eased. As investor activity picks up, we’ve started to see a slight improvement to the deterioration previously seen in listing volumes."
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This quarter saw Hobart's "strongest surge in rental prices in the city’s history": Domain

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<div>The Queensland rental market has tightened over the year to June 2018.</div>
<div> </div>
<div>The latest quarter reported 24 tight markets, up from 19 tight markets in the March quarter according to the latest report from REIQ.</div>
<div> </div>
<div>Brisbane LGA ’s rental market moved from the healthy range, with vacancies of 3.1 per cent in March, to the tight range, with 2.3 per cent in June 2018.  However, this market is being described by local agents as patchy, with tenants favouring certain pockets over others.</div>
<div>
 The rental markets in Greater Brisbane, including the outer Brisbane regions of Ipswich, Logan, Moreton Bay and Redland, are tight with vacancies in the range of 1.2 per cent to 2.5 per cent.</div>
<div>
 The historically tight markets of the Sunshine and Gold coasts have loosened this quarter, however, they have for the most part remained within the tight range.</div>
<div>
 The Fraser Coast rental market tightened more than 1 percentage point, from 1.9 per cent to 0.8 per cent.  Regional Queensland continued strengthening this quarter, with Toowoomba, Mackay, Bundaberg, and Rockhampton operating within the tight or healthy range.</div>
<div> </div>
<div>Greater Brisbane’s vacancy rates tightened to 2.2 per cent, sitting within the tight range for the first time in nearly three years.</div>
<div>
 The tightest of all markets in Queensland is South Burnett, where vacancies were recorded at 0.5 per cent.</div>
<div> </div>
<div>The tightest major centre rental market is Maryborough, with 0.7 per cent vacancy rate (a tightening of 1.8 per cent) from 2.5 per cent in the March quarter.</div>
<div> </div>
<div>Cassowary Coast is the weakest rental market in Queensland. This market is historically weak but 5.9 per cent is an improvement on recent levels which included 11.5 per cent in December 2017.</div>
<div> </div>
<div>The second weakest major centre market is Townsville at 4 per cent vacancy rate however in March 2017 the Townsville vacancy rate was 6.2 per cent.</div>
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Brisbane patchy, as REIQ reports the increasing tightness of rental markets

<html><body>
The Sydney rental market has recorded the highest vacancy rate in at least 13 years according to SQM Research with 19,500 landlords seeking tenants.
Sydney’s rental vacancy rate rose to 2.8% in June with an estimated 19,572 residential rental dwellings sitting vacant and available for rent.
The vacancy rate rose from 2.5% recorded in May and 2% recorded in June 2017.
The 2.8% is the highest rental vacancy rate since at least 2005 when SQM Research commenced record keeping of rental listings. 
Nationally, the residential rental vacancy rate rose to 2.3% in June (from 2.1% recorded in May) with the number of vacancies Australia-wide now sitting at 75,757 properties.
Most cities recorded a rise with Melbourne rising to 1.6%, Brisbane to 3.0%, Canberra to 0.9% and Adelaide rising to 1.5%. Rental vacancies remained steady in Perth (4.1%), Darwin (3.5%) and Hobart (0.7%)
It should be noted that there tends to be a seasonal rise in rental vacancies for the major capital cities during the month of June. However it is SQM’s view that the rise recorded in Sydney goes beyond seasonal factors.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="12%">
City
</td>
<td valign="bottom" width="13%">
June 2017 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
May 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
June 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Adelaide
</td>
<td valign="bottom" nowrap width="13%">
3,251
</td>
<td valign="bottom" nowrap width="14%">
1.8%
</td>
<td valign="bottom" nowrap width="15%">
2,468
</td>
<td valign="bottom" nowrap width="14%">
1.3%
</td>
<td valign="bottom" nowrap width="15%">
2,726
</td>
<td valign="bottom" nowrap width="14%">
1.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Perth
</td>
<td valign="bottom" nowrap width="13%">
10,638
</td>
<td valign="bottom" nowrap width="14%">
5.4%
</td>
<td valign="bottom" nowrap width="15%">
8,235
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
<td valign="bottom" nowrap width="15%">
8,426
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Melbourne
</td>
<td valign="bottom" nowrap width="13%">
8,754
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
<td valign="bottom" nowrap width="15%">
7,676
</td>
<td valign="bottom" nowrap width="14%">
1.4%
</td>
<td valign="bottom" nowrap width="15%">
9,035
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Brisbane
</td>
<td valign="bottom" nowrap width="13%">
11,497
</td>
<td valign="bottom" nowrap width="14%">
3.6%
</td>
<td valign="bottom" nowrap width="15%">
9,331
</td>
<td valign="bottom" nowrap width="14%">
2.9%
</td>
<td valign="bottom" nowrap width="15%">
9,886
</td>
<td valign="bottom" nowrap width="14%">
3.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Canberra
</td>
<td valign="bottom" nowrap width="13%">
731
</td>
<td valign="bottom" nowrap width="14%">
1.2%
</td>
<td valign="bottom" nowrap width="15%">
498
</td>
<td valign="bottom" nowrap width="14%">
0.8%
</td>
<td valign="bottom" nowrap width="15%">
565
</td>
<td valign="bottom" nowrap width="14%">
0.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Sydney
</td>
<td valign="bottom" nowrap width="13%">
13,215
</td>
<td valign="bottom" nowrap width="14%">
2.0%
</td>
<td valign="bottom" nowrap width="15%">
17,164
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
19,572
</td>
<td valign="bottom" nowrap width="14%">
2.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Darwin
</td>
<td valign="bottom" nowrap width="13%">
961
</td>
<td valign="bottom" nowrap width="14%">
3.3%
</td>
<td valign="bottom" nowrap width="15%">
1,051
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
<td valign="bottom" nowrap width="15%">
1,062
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Hobart
</td>
<td valign="bottom" nowrap width="13%">
190
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
211
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
221
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
National
</td>
<td valign="bottom" nowrap width="13%">
78,314
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
69,152
</td>
<td valign="bottom" nowrap width="14%">
2.1%
</td>
<td valign="bottom" nowrap width="15%">
75,757
</td>
<td valign="bottom" nowrap width="14%">
2.3%
</td>
</tr>
</tbody></table>
 
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.  
Capital city asking rents for houses fell over the month to 12 July 2018 by 0.4% to $549 a week. Unit asking rents remain steady at $444 a week. Over the year, asking house rents rose just 0.5%, while unit asking rents rose modestly by 0.9%.
While the asking rent for a three-bedroom house in Sydney remains the highest in the nation at $709 a week, rents fell 0.8% over the month to 12 July, with the upward trend in the vacancy rate easing pricing pressures. Asking unit rents in Sydney now stand at $522 a week, down by 0.2% over the month. Sydney was the only city to record falls in rents for the year with rents for houses down by 2.2% and units down by 0.1%
Canberra also recorded monthly falls in rents for both houses (0.1%) and units (2.5%) however rents are well up by 13% over the past 12 months for houses. Melbourne’s house rents fell by 1.3% for the month but unit rents rose marginally by 0.1%.
Brisbane, Darwin, Adelaide and Perth house rents continue to register small increases in the past 30 days.  However, rents for units in Adelaide fell by 0.2%, making it the cheapest capital city to rent a unit at $299.60 a week.  Adelaide is also the cheapest capital city to rent a house, with the asking rent sitting at $383.10 a week, although there is an increase of 0.9% for June.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="6" valign="top" width="100%">
SQM Research Weekly Rents Index
</td>
</tr>
<tr>
<td colspan="2" width="39%">
Week ending - 12 Jul 2018
</td>
<td width="10%">
Rent
</td>
<td width="16%">
Change on previous week
</td>
<td width="16%">
Rolling month % change
</td>
<td width="17%">
12 month % change
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Canberra
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
630.7
</td>
<td valign="top" nowrap width="16%">
-2.7  
</td>
<td valign="top" nowrap width="16%">
-0.1%  
</td>
<td valign="top" nowrap width="17%">
13.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
439.6
</td>
<td valign="top" nowrap width="16%">
-1.6  
</td>
<td valign="top" nowrap width="16%">
-2.5%  
</td>
<td valign="top" nowrap width="17%">
6.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Sydney
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
709.2
</td>
<td valign="top" nowrap width="16%">
-0.2  
</td>
<td valign="top" nowrap width="16%">
-0.8%  
</td>
<td valign="top" nowrap width="17%">
-2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
521.7
</td>
<td valign="top" nowrap width="16%">
-0.7  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
-0.1%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Darwin
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
540.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.4%  
</td>
<td valign="top" nowrap width="17%">
5.8%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
405.0
</td>
<td valign="top" nowrap width="16%">
0.0  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
1.9%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Brisbane
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
451.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
2.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
370.4
</td>
<td valign="top" nowrap width="16%">
0.6  
</td>
<td valign="top" nowrap width="16%">
0.3%  
</td>
<td valign="top" nowrap width="17%">
0.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Adelaide
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
383.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.9%  
</td>
<td valign="top" nowrap width="17%">
2.1%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
299.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
3.5%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Hobart
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
398.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.3%  
</td>
<td valign="top" nowrap width="17%">
8.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
347.3
</td>
<td valign="top" nowrap width="16%">
-0.3  
</td>
<td valign="top" nowrap width="16%">
-0.9%  
</td>
<td valign="top" nowrap width="17%">
10.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Melbourne
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
522.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-1.3%  
</td>
<td valign="top" nowrap width="17%">
2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
411.8
</td>
<td valign="top" nowrap width="16%">
0.2  
</td>
<td valign="top" nowrap width="16%">
0.1%  
</td>
<td valign="top" nowrap width="17%">
2.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Perth
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
424.5
</td>
<td valign="top" nowrap width="16%">
0.5  
</td>
<td valign="top" nowrap width="16%">
0.8%  
</td>
<td valign="top" nowrap width="17%">
0.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
326.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
-0.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
National
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
432.0
</td>
<td valign="top" nowrap width="16%">
-1.0  
</td>
<td valign="top" nowrap width="16%">
-0.5%  
</td>
<td valign="top" nowrap width="17%">
1.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
355.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-1.1%  
</td>
<td valign="top" nowrap width="17%">
1.7%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Cap City Average
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
549.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-0.4%  
</td>
<td valign="top" nowrap width="17%">
0.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
444.0
</td>
<td valign="top" nowrap width="16%">
0.0
</td>
<td valign="top" nowrap width="16%">
0.0%
</td>
<td valign="top" nowrap width="17%">
0.9%  
</td>
</tr>
</tbody></table>
 
 
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SQM calculates highest ever number of Sydney landlords without tenants

<html><body>
The Sydney rental market has slowed, according to research from the Real Estate Institute of New South Wales.
REINSW Deputy President Brett Hunter said the June 2018 REINSW Vacancy Rate Survey saw a general increase in vacancy rates across the Sydney metropolitan area.
“The Sydney vacancy rate rose 0.3 percentage points with rises of 0.4 percentage points in both Inner and Middle Sydney at 3 per cent and 2.8 per cent respectively, while Outer Sydney remained steady at 2.4 per cent. 
“Agents reported fewer enquiries coming through due to the approach of the winter season,” Mr Hunter said. 
 “An oversupply of apartments is also affecting Middle Sydney.” 
In the Hunter, vacancy rates rose 0.3 percentage points to 1.9 per cent, led by Newcastle which rebounded 0.5 percentage points to 2.4 per cent. The Illawarra gained 0.1 percentage points to 2.5 per cent with Wollongong increasing 0.2 percentage points to 2.3 per cent.  Across regional areas, the Central Coast fell 0.1 percentage points at 2 per cent, Northern Rivers added 0.2 percentage points to 1.5 per cent and New England gained 0.4 percentage points to 2.3 per cent. 
 
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Sydney rental market slows as oversupply of apartments affecting Middle Sydney: REINSW

<html><body>
Renters want stability and security of tenure for the same reasons property owners do. 
They seek a stable location that enables the household to stay connected with their family, friends, schools, jobs and community. 
Moving frequently is also inconvenient and expensive, so the ongoing threat of not having leases renewed leaves renters, especially low-income renters, vulnerable. 
There is now a new concept that aims to alleviate some of the issues. 
Build to rent is where investors build multi-unit buildings and, instead of selling the units, they are retained to rent. 
Build to rent is well established in the UK and USA, but never really taken up in Australia by large scale investors.
Indeed rental housing supply has been primarily come from individuals rather than or large investors or even government in Australia. It's been mostly left to mum and dad investors. 
There have been very few large scale investors with the capacity or preparedness to take it on. Certainly Harry Triguboff leads the way given the many apartments he has kept in his private portfolio. While such apartment developments increase rental supply, they do not target lower income households. 
Unlike many European countries where public/social housing is a major component of the housing profile, social housing has never exceeded more than six percent of Australia’s housing stock. 
An Australian Housing and Urban Research Institute study indicated big Australian investor institutions had no experience of large scale investment in rental housing in to judge Australian outcomes. Untried investment niches normally require a pioneering investor and a novelty premium on the rate of return. 
The recent announcement by NSW Minister for Social Housing, Pru Goward of a project in Redfern provides such a positive start towards the aim of providing a more diverse supply of housing for Sydney. The site will accommodate social, affordable and market rental housing on land provided by the NSW government.
The government to retain the land while investors, in partnership with community housing providers will fund, build and manage the site under a 40 year lease.
The Elizabeth Street site, which includes the Police Citizens Youth Club premises, will be exempt from land tax. It’s expected 500 dwellings will be built with 30 per cent earmarked for affordable housing.
The Property Council NSW executive director Jane Fitzgerald said the government has put its money where its mouth is. “They’re not only giving the land but also giving a full land tax exemption for the project which should really make a difference for making the financials stack up,” Ms Fitzgerald said.
One of the key reasons for Australia's slow embrace has been the perceived low returns. High property management costs are another barrier, coupled by the illiquidity that comes with all property assets.   
There also remains a perceived high risk, of public policy changes. Unlike commercial property, the current GST rules won't help the roll out of build-to-rent.
That's something for Treasurer Scott Morrison to address. The shadow treasurer Chris Bowen has sought a parliamentary review as it "would be a shame to see this sector get killed by policy."
This article first appeared in The Daily Telegraph.
</body></html>

NSW State Government backed build to rent will offer renters stability

<html><body>
Perth’s rental market produced mixed results in the June 2018 quarter, with stable dwelling rents, subdued leasing activity, declining listings and faster leasing times, according to the latest REIWA.com.au rental report.
REIWA President Hayden Groves said the June quarter’s mixed results were not unusual given Perth’s rental market was in a transitional phase and “although the worst of the downturn appears to be behind us, it’s not uncommon to see results fluctuate as the market transitions into a recovery". 
“The change in seasons has also contributed to this quarter’s results, with the cooler weather impacting activity levels.
"We tend to see activity slow during the winter months before picking up again in spring."
Median rent prices Perth’s overall median rent price remained stable in the June quarter, holding at $350 per week for a fifth consecutive quarter.
"After experiencing prolonged periods of freefalling rent prices, the stability we’ve observed over the last 12 months is a welcome change and should provide landlords with confidence,” Groves said.
Although Perth’s overall rent was stable, reiwa.com analysis shows 102 suburbs across the metro area did experience median rent price growth.
The five best performing suburbs for rent price growth in the June quarter were Attadale (up 75.8% to $580 per week), Jolimont (up 50.9% to $423 per week), Burswood (up 33.3% to $480 per week), Booragoon (up 28.4% to $475 per week) and Hamersley (up 28.4% to $430 per week).
Other top performing suburbs were Karawara, North Fremantle, Mount Nasura, Mount Claremont and Hillarys.
In terms of leasing activity 12,633 total properties were leased during the June 2018 quarter.
Leasing activity has declined 10.4% over the June quarter and is down 4.1% compared to the June 2017 quarter.
Population figures for WA shows migration into the state has declined by five%, which has likely influenced leasing activity levels in Perth.
"After 12 months of stable rent prices, lower activity levels suggest tenants are feeling confident rental prices have found a floor and therefore more inclined to stay put,” Groves said.
Despite the overall reduction in leasing activity, reiwa.com data shows there were 71 suburbs across the metro area which saw leasing activity improve.
The five suburbs which saw the biggest improvement in activity were Brookdale (up 88.9%), Ocean Reef (up 75%), Kallaroo (up 63.6%), Parmelia (up 48.3%) and Hamersley (up 46.2%).
There were 8,293 properties listed as for rent in Perth at the end of the June 2018 quarter.
Groves said this figure was 2.5% lower than the March 2018 quarter figure and 22.9% lower than the June 2017 quarter meaning rental listings in the metro area have declined significantly over the last 12 months, with far fewer properties available for rent this year compared to last.
"A key driver for this improvement is the slowdown of new dwelling commencements, with less new properties coming onto the market, existing rental stock is being soaked up faster, putting downward pressure on listing volumes,” Groves said.
The average leasing time for the last quarter was on average 46 days to find a tenant, which is two days faster than the March quarter and six days faster than this time last year.
Groves concluded that: “Although leasing activity softened during the June quarter, activity levels remain above long term averages.
"This, combined with rapidly decreasing listings means tenants are needing to act faster to secure a rental property.”
</body></html>

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