Leasing Strategy: Why days on market matter
Rental headlines often focus on median rents, but for investors the more meaningful metric is often days on market.
Across our property management portfolio, the average leasing time since the start of the year has been just 10.2 days.
For comparison, REIWA data indicates that properties in the suburb of Perth have averaged approximately 17 days on market over the past year.
This difference highlights the importance of leasing strategy, pricing alignment and campaign execution.
In a market that is no longer operating in emergency conditions, tenants are becoming more selective. Properties that are presented well and priced appropriately continue to lease quickly, while those testing aspirational pricing without evidence often experience longer vacancy periods.
A recent example is leasing a 3×2 villa in Joondanna. We advertised the property only once it was vacant and cleaned. We had 11 groups through and leased it at $950 per week with lease commencement within a week from vacate date.
For investors, minimising vacancy often has a far greater impact on long-term performance than chasing marginal rent increases.
