According to REIWA President Hayden Groves, “The rental market has also showed signs it is stabilizing with weekly rents increasing across the board and listings at levels consistent with the month prior.
We are experiencing the threat of an economic downturn. Softening market can be attributed to seasonal effect and we have seen last quarter. Perth is performing well and no signs of bottoming for falling of house prices.
Based on the latest preliminary REIWA.com. data, Perth rental market is stabilized. Median rent is increasing by $5 to $400 last month. Is this the sign of having stabilizing market? Median price surged, therefore in 2016, we would see an upswing in Perth property market with rental yields of 4%. Old properties and land values are the key driver to attract buyers and investors. We have more rental listings in Perth and predicted to have higher demand for the coming months.