According to Bendigo and Adelaide Bank Executive retail Dennis Bicecrt, “The improvement in housing affordability driven by lower interest rates, was securing the property market.” We all know that the recovery of Perth Property market is gaining speed in lifting the median house price. Almost all the states where homes prices increased and I think the tightness of the rental vacancy will vividly driven to continue the vacancy rate. In line with the higher price properties, the higher the interest makes the owners to sell their properties with high price.

http://au.news.yahoo.com/thewest/business/a/-/national/16355649/3-3pc-lift-shows-perth-home-market-gaining-speed/ 


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We all know that house price and rent is increasing due to the market demand. Some of the states are competing but Perth leads the market although Perth is one of the expensive costs of living. But considering all the factors, Perth is the boost and competitive state to other countries.

According to the rental Report from Australia Property Monitors, “Perth and Darwin have both recorded 22% growth in median house rents in the past 12 months.” Population growth is the driving force in Perth market and it shows high level of demand from renters and buyers. Population growth in Perth leads the market becoming very competitive and house and rent have risen.

http://www.hotspotting.com.au/article/2462-darwin-and-perth-lead-rental-growth


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According to CommSec’s quarterly state of the Sate Economic Performance, “The gap between the best-and worst-performing states in the country appears to be widening.” Among all the states, WA leads the way on retail trade, population growth and equipment investment and housing finance. Western Australia also has the strong mining economy. Australia is one of the expensive countries but despite of, the confidence is high with high population. But considering all the factors, WA is becoming one of the most expensive states to live. Because of the mining sector activity and WA still he nation’s economic powerhouse outperforming other states.

http://www.perthnow.com.au/business/wa-still-nations-economic-powerhouse/story-fnhohdoh-1226625637300


Tags: WA

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Confidence is very important for the property marker o encourage investors and the industry to perform better. Nowadays, the latest survey shows confidence is very strong that really helps the market to become more competitive.

According to Property Council of Australia Chief Operating Officer Ken Morrison, “There is a feeling would-be buyers are returning to the market after a tough couple of years.” We cannot deny the fact, that confidence has risen and the real estate agents are feeling good because of the business trend. We see some factors that driven the said confidence namely are the following: house prices increase, low interest rate and have population increase. In line with this, agents and business sectors believes that investors and homebuyers are returning to the market. Despite of the ups and downs, but still we are still very optimistic perspective about property market.

http://www.perthnow.com.au/business/breaking-news/real-estate-agents-confidence-soars/story-fnhrvfsf-1226623045471

 


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According to Real estate Institute of WA (REIWA), “Perth rentals have continued to rise with overall median rent jump of almost 12% on the same time last year to $470 per week.” During March quarter, Perth’s median rent has risen to 4.4% and the median rent for house stands at $480 and at $450 per week for unit. The modest increase in demand for rental across Perth was being freed-up by first home buyers who want to have their own home. REIWA data also shows that many people were heading to outer suburbs to secure more affordable accommodation.

http://au.news.yahoo.com/thewest/a/-/wa/16727980/perth-rentals-dearer-and-hard-to-find/


Tags: perth rent, reiwa

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National Australia Bank released their survey last April 11, 2013 and it shows the forecast that house prices are expected to bottom out from 2013 led by Western Australia. Among all the states, Western Australia is the “standout for price growth” with 1.3% rise expected. The WA state outlooks has strong optimism forecast and will still remain the strongest performer followed by Victoria.

Based on the survey from NAB data, Perth is the strongest in price growth and the weakest in Adelaide. Stronger demand, investors and home-buyers are more active on the market now and migrants are overflowing, these are the factors why WA stills the strongest.

 


 

Residential Property Survey _March 2013_.pdf (180.12 kb)


Tags: nab

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It is better to buy a house in one time investment than to rent a house per week for a longtime. Perth known as one of the expensive cost of living and Perth houses considered as one of the most expensive all over WA. Perth had four of Australia’s five most advantaged suburbs and one of the boom states.

According to Real Estate Institute of Western Australia President David Airey, “Our preliminary data for the March quarter show that while the proportion of sales under $500,000 has fallen there was a marked increase in sales between &500,000 and $1 million.” Despite the downturn of sales, property prices in Perth have reached record high, which showed a slight increase. It drives by strong home buyer activity and a high consumer confidence. Perth median house price at the moment is $479,000 and shows that home values in Perth is faster than any other capital cities.

http://www.oneperth.com.au/2013/04/01/perth-house-prices-2013/

 


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Stable house prices, low interest rates and demand by tenants are factors that affect the rental prices. Will rental prices maintained reasonably? Is there a steady flow of rental properties?

Based on the data from Real Estate Institute of Western Australia (REIWA), “house and unit rental costs are stabilizing.” Current data shows that Perth median rent remains stable at $450 per week even though median house rent has risen by $10 to $470 per week. However, median rents for units, apartments, villas and townhouses were unchanged at $420 per week. Even March quarter is the strongest and the busiest time of the year in rental sector, but I think these past three months, vacancy rate seems to stable and the median rent as well. Would the market continue to up or to become stagnant market?

http://www.abc.net.au/news/2013-02-16/reiwa-says-rental-prices-in-perth-are-stabilising/4522966


Tags: house rent

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The Reserve Bank of Australia (RBA) on Tuesday left the country’s key interest rate unchanged at 3% meeting widely held expectations by economists. Since December, interest rate still at 3% and it is still on hold till today.

According to the Central Bank last Tuesday, Global Growth is forecast to be a little below average for time, but the downside risks appear to be reduced,” It has been 3 consecutive months of steady interest rates and economic activity affects why the interest rate on hold. As general, our local economy remains optimistic. Homebuyers are back into the market, confidence level is rising that helps to strengthen the housing market. Indeed, this trend may be the reason why rates are remain steady.


http://articles.marketwatch.com/2013-04-01/markets/38193016_1_key-interest-rate-governor-glenn-stevens-global-growth


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According to RP Data-Rismark reported this average, “Perth is leading a national recovery in housing values on the back of continuing low interest rates.” All capitals have positive territory because priced housing is showing the healthiest market. REIWA also reported that median house price in Perth hits $510,000 in the March quarter. Many houses are being sold that driven by an increase turnover. The interest rate remains unchanged and I think median price will continue to increase because of the demand.

http://au.news.yahoo.com/thewest/a/-/wa/16487520/jump-in-perth-house-values/


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