Ray White Cottesloe | Mosman Park has added five experienced property managers to its asset management division, taking the department to 14 people as rental demand in Perth’s western suburbs continues to outpace the broader market.
The median house rent in Mosman Park and Peppermint Grove has risen $200 over the past year to $1,400 a week, according to Neoval figures cited by the agency. That’s a 16.7 per cent increase, more than double the 7.9 per cent growth recorded across Greater Perth. Unit rents in the area are up 7.1 per cent to $600 a week.
Vacancy is tight. The area recorded a vacancy rate of 0.39 per cent in September, below Greater Perth’s 0.52 per cent and well under the national rate of 0.95 per cent.
Neighbouring Cottesloe remains the area’s most expensive rental market, with a median house rent of $1,425 a week (up 5.6 per cent) and units renting for $825 (up 4.4 per cent).
Ray White Cottesloe | Mosman Park Director Jody Fewster said demand for homes near the beach and river remained strong, driven by lifestyle buyers and relocating professionals competing for quality properties.
“Demand always picks up in our coastal and riverside communities as the weather warms, and this year the market has been especially resilient,” Jody said.
“These five people bring deep local knowledge and established relationships. They let us give landlords and tenants more hands-on management without losing the personal service our clients expect.”
The expanded department is led by Janelle Drew, Head of Asset Management and Licensee.
Ray White Cottesloe | Mosman Park Head of Sales Sean Gibson said the expansion reflected the office’s confidence in the western suburbs rental market.
“Jody and Janelle have built one of the strongest asset management businesses in Perth,” he said.
“Growing the team at a time when rents are rising and vacancy is this tight means landlords and tenants get the local expertise and support they need.”