Vacancy Rate in Perth are languishing as many owners and real estate agents struggling to find buyers. Many houses, villas & apartments are vacant and show over-supplied market. There are a lot of properties in Perth market and expected to increase due to trend problem.

According to Real Estate Institute of WA President David Airey, “A slowdown in population growth and a spike in rental listings had resulted in more vacancies.

 

Having so much supply for houses make the market difficult to cope up. When the supply is too high and population growth slowdown; the conditions result a big drop in demand. Rental properties market weakens indeed because the boom for rentals has ended. Therefore, the rental price decreases due to high supply and very low demand.

http://www.abc.net.au/news/2014-11-27/owners-urged-to-drop-rent-to-meet-market/5921386

 


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As its meeting last November 04, 2014 of Monetary Policy Decision, the Board decided to leave the cash rate unchanged at 2.5%. Reserve Bank of Australia has enough reason to leave the cash rate on hold for a long time; the Australian dollar has fallen and Business confidence fell for how many months. Growth is the global economy also is continuing at a moderate pace. Markets still appears to be attaching a downturn probability and have a consistent moderate growth in economy. Monetary Policy fosters a sustainable growth in demand and provides support to balanced growth in the economy. House price growth is now in moderate pace which driven the interest rate uncut until next year. Therefore, when the market continues swinging and subdued, interest rate is likely to be stable.

http://news.apm.com.au/apm-news/interest-rates-on-hold–again-20121213-2bc7c.html


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For previous weeks, Perth property market has been experiencing downturn. Sales turnover for house has dropped and rents are falling. But despite of the negative results, Perth remains strong and fierce.

Based on the released date, Perth rental yields are outperforming the national average.

 

The RP Data shows that Perth’s average rental yield is now at 4.7% for units and 4.1% for houses. Despite the gloom, there is a positive outlook for Perth market. When the economic growth is maintained, a better transition for mining and energy resources, when the investors’ confidence will continue to superb, therefore property market remains indestructible.

http://www.wapropertynews.com.au/perth-rental-yields-outperform-australian-average/-3396


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