National Housing Market has slowed down. It led to negative movement because of the downturn in resources investment. Many are expected the market to soften but sometime flatten. New listings are going up but it takes time to off from the market. Perth vacancy rate is 4.8% and this is too high.
According to ANZ Property Council Property Confidence Index, “WA is currently showing the lowest level of confidence across all property sectors in the country.”
Buying opportunities open up for investors looking to buy low, but the market continues to weaken. The Perth market is in a downturn and continues for the coming years. House prices remain softens and it’s time for a buyer’s market for the state recession continues. Slowing population triggers and created the oversupply. Rent is in the market suffered the most because of the end of mining boom.
“Further evidence of the impact that a slower economy is having on the residential sector is the rental market where Perth’s vacancy rates are the highest since 2009 (close to 5%) according to REIWA figures, with over 8000 houses available for rent in Perth.”http://blog.realestateview.com.au/2015/09/perth-property-market-mighty-fallen-bad-news-investors/