WHITE Gum Valley, Scarborough and Shenton Park are among the 10 Perth suburbs where tenants are snapping up rental properties according to REIWA.
President Hayden Groves said while it takes Perth landlords 45 days on average to secure a tenant for their rental, numerous suburbs across the metro area were experiencing faster leasing times.
“In White Gum Valley for example, landlords are finding tenants in approximately 27 days – 18 days faster than the Perth Metro average, while in Scarborough and Shenton Park it takes 28 days and in Pearsall and Leederville 29 days,” he said.
Reiwa.com data showed all but one of the suburbs on the list had a median house rent price above the Perth Metro median of $350 per week.
“Number six on the list, Floreat, has a median house rent of $543 per week, close to $200 more than the Perth Metro average,” Mr Groves said.
“Many of these suburbs are well-established areas, typically popular with the trade-up and luxury segment of the residential market.
“This suggests tenants are finding good value in suburbs that might otherwise be considered out of their price range, and are acting fast when rentals become available for lease.”
All the suburbs on the list, with the exception of Shenton Park, saw a notable improvement in average leasing days over the last year.
“The Vines and White Gum Valley had the biggest reduction in average leasing days, experiencing declines of 34 days and 26 days respectively between May 2017 and 2018,” Mr Groves said.
“A combination of strong leasing activity levels and declining listings has caused the pendulum to start to swing in favour of landlords.
“This is particularly the case in those suburbs where we are observing quick leasing times.
“Prospective investors who are considering purchasing an investment property in one of these suburbs are in a very good position to secure a tenant quickly.”