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Perth rental vacancies plunge to record low

Perth’s residential vacancy rate has fallen to an equal historic low, with the city’s dwindling number of available rental properties starting to put upwards pressure on rents.

Perth houses
Competition for vacant properties in Perth is getting intense, according to agents. Photo: Shutterstock

Perth’s residential vacancy rate has fallen to an equal historic low, with the city’s dwindling number of available rental properties starting to put upwards pressure on rents.

The Real Estate Institute of WA said Perth’s vacancy rate fell to 0.8 per cent in November, the lowest level on record that was previously seen once before, in 2007.

REIWA president Damian Collins said listings were down 52 per cent on the same time last year, with media…