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.

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!




Menu openMenu closedMenu arrowMenu arrow open