Perth’s rental property market continues to supply more houses for tenants but remains tough for the landlords/agents. Rental is likely affordable and vacancy rate for houses is significantly increasing. The market shows remain steady due to high vacancy rate. Therefore, tenants have many choices available for tenants but landlord is problematic.
According to new data from the Real Estate Institute of WA, “Perth’s surging housing supply last year added right more properties for every one buyer.”
Nowadays, market continues to provide plenty properties available for rent. Perth market remains steady and seems vacancy rate rising. Due to high vacancy rates, pressure in falling rent is expected. Median house price is increasing by 1% for three months. Will it be in favour for the new home buyers?
REIWA President Hayden Groves said, “But despite the big decline in sales figures, the shift in demand was working to create an overall more “healthy market.”