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Perth has recorded its first steady quarter in over a year for rental prices, with the median weekly cost for houses remaining stagnant at the record peak of $700 per week.

Meanwhile, unit prices recorded their first decline since 2017 – dropping 3.2 per cent to $600 per week over the quarter, according to Domain’s Rental Report for September.

It was “quite an extraordinary outcome” for the state’s capital, according to Domain chief of research and economics Dr Nicola Powell, because the vacancy rate remained at just 0.5 per cent – the same as a year ago. A healthy rental market records vacancy rates of 3 per cent.

“It is still very much a landlord’s market and so this is an unusual outcome,” Powell said.

“What that says to me is that budgets are extre

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