Rental vacancy rates across the capital cities have tightened in the month of July – except for the Victorian capital of Melbourne

Most rental markets tightened in July, with fewer available rental listings suggesting landlords of holiday lets are converting back to short-term leasing. The further easing of COVID-19-related restrictions across the country will have fuelled the fall in rental supply in all capital cities, except Melbourne.

reiwa.com data revealed Perth’s rental stock has been quickly absorbed, with listings falling by 17 per cent in May to 4676, which is the lowest they have been since November 2013.

It is also significantly lower than the same time last year when there were 7243 properties available for rent.

In May, Halls Head saw the biggest spike in leasing activity growth with 33 leases for the month and was closely followed by Nollamara (20 leases), Coolbellup (16 leases), Joondalup (18 leases) and Como (18 leases).