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12-Jul-2018
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Property investors wanting to know which suburbs will attract tenants the quickest should pay attention to the latest Top 10 Rental List by the Real Estate Institute of WA.

Based on the average days it took for properties to lease, White Gum Valley near Fremantle, beachside Scarborough and inner-city Shenton Park were among the top suburbs where landlords were finding tenants for their rental properties the fastest.

REIWA President Hayden Groves said while on average it takes Perth landlords 45 days to secure a tenant for their rental, numerous suburbs across the metro area were experiencing faster leasing times.

“In White Gum Valley, for example, landlords are finding tenants for their rental properties in approximately 27 days – 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,” 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.

Realmark Group Managing Director, John Percudani said investors wanting to make the most of this upswing in rental activity could look to these suburbs and surrounding areas for properties that would prove popular with tenants.

“This list gives a good indication of where tenants are seeking to rent, in high demand and happy to sign on quickly to secure a property.

“Investors should consider this list, and in surrounding suburbs, for properties that will not only appear attractive to tenants but might also have either proximity to transport, lifestyle attractions such as the beach or shopping hubs, or close proximity to the CBD,” he said.

Other suburbs to make the Top 10 list included the northern suburb of Pearsall near Wanneroo, inner-city Leederville, western suburbs Floreat and Doubleview, golf course affiliated suburb The Vines, the southern suburb of Manning near Como and Hilton which is also near Fremantle.

“Many of these suburbs are well-established areas, typically popular with the trade-up and luxury segment of the residential market,” Mr Groves said. “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.”

reiwa.com data shows all but one of the suburbs on the list to have a median house rental price above the Perth Metro median of $350 per week.

All of the suburbs on the list, with the exception of Shenton Park, also 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.

“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.”

• White Gum Valley, 27 average leasing days - $400 per week median house rent.
• Scarborough, 28 average leasing days - $395 per week median house rent.
• Shenton Park, 28 average leasing days - $450 per week median house rent.
• Pearsall, 29 average leasing days - $350 per week median house rent.
• Leederville, 29 average leasing days - $418 per week median house rent.
• Floreat, 30 average leasing days - $543 per week median house rent.
• Doubleview, 31average leasing days - $420 per week median house rent.
• The Vines, 31 average leasing days - $410 per week median house rent.
• Manning, 31 average leasing days - $400 per week median house rent.
• Hilton, 32 average leasing days - $393 per week median house rent.
• Perth Metro, 45 average leasing days - $350 per week median house rent.

*SOURCE: REIWA, 3 months to May 2018

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