PHOTO: New figures show Perth’s rental vacancy rate fell to 2.5 per cent in the September quarter. Unsplash: Tierra Mallorca

Real estate agents say a tightening in Perth’s rental market may point to a broader housing recovery, driven by a turnaround in population growth.

Key points:

  • The declining rental vacancy rate has combined with a steady fall in rental listings
  • Rents are yet to increase across the board but are predicted to rise early next year
  • REIWA says it is the “best indication yet” of a broader housing market recovery

Figures from the Real Estate Institute of Western Australia (REIWA) show the rental vacancy rate fell to 2.5 per cent in the September quarter.

That represents a tightening in the market since June, but the vacancy rate remains above the 2.4 per cent recorded earlier in the year, when real estate agents were tipping a rebound in rents on the back of stronger demand for properties.

REIWA deputy president Lisa Joyce said the Perth market was considered to have reached equilibrium when the vacancy rate hit 3 per cent.

READ MORE VIA ABC