According to the Real Estate Institute of Western Australia (REIWA), “More and more Perth rentals are being left vacant as the city’s population growth falls and record low interest rates encourage tenants to become first homebuyers.

We all know that the Perth vacancy rate lifted to 4.4% due to the falling population growth. Population growth drops because many lost their jobs in resources and mining. Mining was the biggest contributor to attract migrants and helps the population growth increase. Nowadays, many vacant properties which shows supply is too much but the demand is very low.

Even the median rent has dropped, due to falling population growth, and former tenants who become first home buyers, the vacancy rate for the first quarter of this year and this is not usual. The normal rate for vacancy rate is 3% but 4% and up is inconsiderable. Property owners and agents should attract tenants the asking rent and good services. Amid the competition, owners and agents should maintain the good tenants.

http://www.abc.net.au/news/2015-05-07/perth-rental-vacancies-rise-as-low-interest-rates-encourage-buy/6450646


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Australian Economy is growing but encountering a sluggish property market, nowadays. Interest rate remains as is which plays a big role in having a competitive market. Most of the capital cities in Australia sluggish and property market upswing. Which is which, you want to be a buyer or a renter?

According to Co-chairperson of the REIWA property manager Network Kathryn Massey, “Population Growth had slowed and rental stock has soared. The number of rental properties continues to rise with our data showing 6,600 listings and a vacancy rate of 4.1%.”

Perth rent has an average of around $450 per week for a house and $420 for an apartment, unit, villa or townhouse. Property for sale considers a heightened competition for the properties that are on the market. Many properties are for sale and price is affordable and reasonable. While when you rent a house, there are a lot of vacant properties and expects rent price and vacancy rates remain steady.

http://www.watoday.com.au/wa-news/perth-tenants-on-top-in-sluggish-rental-market-20150416-1mmgt8.html


Tags: vacancy rate

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