The Real Estate Institute of WA has declared the state is in the midst of a ‘rental crisis’ with Perth’s residential vacancy rate dropping to 0.96% – its lowest in 13 years.

It is just the third time since 1980 that the rate has dipped below 1% in Perth.

REIWA president Damian Collins said if the vacancy rate continued on the current trajectory, it could eclipse the record low of 0.8% seen in March 2007.

“With rental listings in Perth falling 8% to 2926 over the month, we have certainly hit a rental crisis where tenants looking for a rental