RESIDENTIAL RENTAL Perth: Snapshot of Typical Asking Rents (approx) MARKET TRENDS PERTH INNER PERTH MIDDLE PERTH OUTER Typical length of tenancy 12 months (Shorter-term leases can be dif昀椀cult; 12+ months preferred) Cities of Perth, Stirling (Sth. East), South Cities of Stirling (Central and Coastal), Cities of Wanneroo (Northern half), Perth, Subiaco, Nedlands, Belmont; Bayswater, Canning, McIIville, Fremantle Armadale, Rockingham; Town of Notice period Towns of Cambridge, Vincent, Victoria (inner & remainder), Cockburn, Kwinana; Shires of Swan, Mundaring and 2 months Locations/Zone Park, Claremont, Cottesloe and the Shire Gosnells, Wanneroo (Sth West & Sth Serpentine-Jarradale of Peppermint Grove East) southern half only; Towns of Typical deposit Bassendean, East Fremantle and the 1 month deposit paid as a bond. Shire of Kalamunda Sometimes, may include a 1 month rent paid in advance. Indicate Indicate Indicate if rental if rental if rental Unique situations Rent From Rent To price is up, Rent From Rent To price is up, Rent From "Rent To price is up, • Standard procedure in AU is to down or down or down or Property Pro昀椀le (AUD/ (AUD/ (AUD/ (AUD/ (AUD/ (AUD/ make the bond and advance Month) Month) unchanged Month) Month) unchanged Month) Month) unchanged rental payments within 24-48 hrs from from from of approval in order to secure previous previous previous properties (very fast-paced and quarter quarter quarter requires prompt approvals). Apt/ • Negotiation on terms is limited, Townhouse/ 2023-Q4 2,130 3,020 1,956 2,608 1,782 2,390 particularly with the increase in Unit demand for properties in the last House 2023-Q4 2,695 4,324 2,390 3,259 2,173 2,825 12 months. Offering below the asking price will lead to losing a Vacancy Rates 2023-Q4 0.7% property. Data Source: Real Estate Institute of Australia (REIA) Real Estate Market Facts