Based on the SQM Research, Perth house rents rose 22.5% and units by 17.1% in the last year. Mining boom drives rents to record high and Perth rent is more expensive than Sydney.

 

According to APM Chief Economist Dr. Andrew Wilson, “The ‘extraordinary rises’ were caused by a fly-in fly-out (FIFO) workforce that can afford to bid up the price of housing well beyond what locals could afford.

 

Population growth is one of so many factors that driven the house rent. Due to have boost economy, we are experiencing two speed rental market. Both house rent and house prices are increasing. We will expect that if the mining boom in Perth will continue growing, population grow will increase also. Therefore there will be a huge possibility to continue the rent to soar high.

http://www.smh.com.au/business/property/perth-rentals-jump-to-sydney-prices-20130411-2hmim.html

 


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Traditionally, more sales are made in the second half of the year but to our surprise, first quarter recorded exceptional sales have seen already. Perth’s property market goes from strength to strength nowadays which is added the good sales results.

According to Real Estate Institute of Western Australia (REIWA) President David Airey, “The surge in sales saw Perth’s median house price rise by at least $5,000 and would likely jump up to $10,000 with late settlements.”

 

The factors behind the continuing strong growth are low interest rates, strong population, growth and a strong economy with high confidence. But we expected for a change especially in median rent and the house price. Indeed, Perth’s property market still performing well and competent to have a better economy.

http://spionline.com.au/home/11798-perth-goes-from-strength-to-strength

 

 


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Last Thursday, The Australian Bureau of Statistics releases labour force data for April, while the Housing Industry Association Trades report to March quarter is also due. The Australian market set to open higher because of the positive economic data. Last Wednesday, the market closed at its good level driven by US market and positive trade in China. Aside from those big cities, NAB announces also that Billabong is expected to provide details of a possible takeover.

Investor helps to heartened positive production and I think they are regaining confidence. Investors play a big role in the economy and they believe that economy is starting to get better. Anyhow, Australian economy is getting better gradually although there are tough times but still it will continue to grow and become more competitive.

http://www.perthnow.com.au/business/breaking-news/australian-market-set-to-open-higher/story-fnhrvfsf-1226638029826


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Last Tuesday, the Reserve bank of Australia (RBA) cut their interest rate which surprises to everybody. It is an unexpected move but is this threat? Will the interest cut really helps to our nations to become more competitive and to have more resources boom?

Real Estate Institute of WA President David Airey said, “He did not expect the cut to bring a blood of new buyers into the residential property market.” After the cut rate, Australia dollar fell but rumored opinions that it will put pressure on Perth’s housing market. House prices set records high and because of the interest cut, some are expected to push the prices higher.

http://au.news.yahoo.com/thewest/business/a/-/wa/17062141/fears-perth-property-prices-will-overheat/


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The latest report nationwide, house prices are edging down. Was it true? Does the result help the market to recover? Is this a sign that the economic conditions are starting to improve?

According to RP Data Director of Research, Tim Lawless, ‘house prices were still 4.2% higher than the low reached in May last year after two years of weakness.” House prices fell by 0.1% in April followed a flat-lining in prices in March. Across Australia’s capital cities fell by half a percent but this past three months, prices rose by 2.8%. Hobart was the worst performer followed by Perth and Adelaide is the only capital city performs better. This is a tentative sign to have an improving economy and I think progress is gradual but still we have the reasons for optimism.

http://www.perthnow.com.au/business/breaking-news/home-prices-fall-in-april/story-fnhrvfsf-1226632953705


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Despite of the Pessimism results in housing market, the majority of Australians expect for a home prices to increase. Compared with last quarter of 2012, Australian’s housing market is improving and recovering. House prices are fairly increasing and tight rental vacancy at the moment. Indeed housing market is continuing to recover. We have seen factors that really helped the housing market namely, strong job growth with low interest rates that gives a boost to buyer confidence.

According to Bloomberg Australian Economic Summit, “Clearly the market is starting to improve and we would expect it to increase moderately as we forward.” Anyhow, house price will increase and some states are affected and expected to remain subdued because of the rental growth. But among all states, Perth rents in both unit and houses are increasing. Despite all the concerns, Australians still optimistic and we will see more activity in the market.


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