Yanchep records big increase in median rent in January

Yanchep and Alkimos both recorded fast median leasing times during January, according to REIWA. File picture

YANCHEP was one of five suburbs to record the biggest increase in median rent during January, according to the Real Estate Institute of Western Australia.

Median rents in Dianella went up $20 to $450 per week, Yanchep up $18 to $438 per week, Ellenbrook up $10 to $410 per week, Byford up $10 to $440 per week and Success up $10 to $480 per week.

Perth’s median rent price was $450 per week during January, which is stable compared to December 2021.

The Real Estate Institute of Western Australia (REIWA) data also showed it took a median of 16 days to lease a rental in Perth during January, which was the same as December and two days faster than January 2021.

In a statement REIWA said the suburbs that recorded the fastest median leasing times during January were Wellard (12 days), Willetton (12 days), Nedlands (13 days), Warnbro (13 days) and Yanchep (13 days).

Other suburbs to experience fast median leasing times were Alkimos, Byford, Subiaco, Success and Scarborough.

REIWA president Damian Collins said there were 2345 properties for rent on reiwa.com at the end of January, which was a 25 per cent increase on December.

“We saw rental listings reduce significantly at the end of December, which is not unusual for that time of year,’’ he said.

“Pleasingly, this reduction was temporary and listings for rent are now nine per cent higher than they were three months ago.’’