Perth Rental Vacancy rates at 7%

Perth Rental Vacancy rates at 7% 01/03/2016

According to figures published by the Real Estate Institute of Western Australia (REIWA), Perth long term rental vacancy rate normally sits at around the 3% mark.
 
The latest figures published by REIWA indicate the current Perth rental vacancy rate is now pushing 7%.
Whilst this is not good news for investors, it is an absolute positive for home sellers with the market indicating a vast number of tenants taking advantage of the still relatively low interest rates and entering  the buying market to secure their first home.

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27 Holden Road, Roleystone 

The resulting effect of a substantial increase of first time buyers in the market place sees an unseasonal strengthening in the sub $650,000 property sector, with sales in the sub $550,000 price category being unprecedented for the months of January and February.

Inevitably what will happen as a result of the lower to mid-sector being so active is that the Sellers of these properties will begin to move up to the higher property categories. In other words, the next few months will see a substantial amount of ‘up trading’ which will inevitably see the $800,000  and above property transactions increase considerably.

So if you are serious about buying…. Act now…. The market is on the move!
 

 


 

 

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