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Market ripe for landlords

West Australians returning to their home State are adding to the current high demand for rentals.

Real Estate Institute of Western Australia (REIWA) data for the June quarter shows the number of properties for lease shrank by 27 per cent.

Jones and Co director Kelly Jones said rental listings in the Perth metropolitan area were down 47 per cent compared to the same time last year.

Figures this week showed there were 3717 properties for rent in Perth – four per cent than the week prior.

Kelly said West Australians coming home during Covid-19 had certainly contributed to the rental shortage.

“And with the borders still closed we’re not seeing the usual flow of professionals leaving WA for work in other States,” she said. “This is definitely a market ripe for landlords.

“Rental demand remains high and investment potential in many areas is a very attractive prospect at the moment.”

The moratorium on tenant eviction is due to end on September 29.

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