CY LEASING: MARCH QUARTER RECAP

The CY Leasing team prides itself on leading the industry, and our results for the March quarter speak for themselves. While the industry vacancy rate has stabilised this quarter, our vacancies have remained below 0.5 per cent for the past 12 months. Between December 2022 and Jan 2023 our monthly enquiries jumped from just over 900 to a whopping 1,600, and this figure has remained over 1,000 every month since.

We’ve also seen an increase in the number of investors entering the market, which is great news for tenants. Listings across Perth jumped to over 1,900 in March, however this is still 17% lower than 12 months ago, meaning we have a long way to go before the market is balanced again. In the March quarter we added 38 new properties to our portfolio, leased a total of 73 homes, and processed 313 applications, indicating that demand still exceeds supply in the suburbs we service.

The average number of days our rental properties are spending on the market has fallen to just 10 and our vacancy rate for the March quarter was 0.3 per cent, half the industry average of 0.6 per cent. At the same time the average weekly rent our landlords are receiving has increased by 10% when comparing March 2022 to this quarter - a significant increase.

If you’d like to achieve results like these get in touch with us today for an obligation-free chat about the benefits of being a CY property investor.

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