Housing market in Perth have started soft and likely to experience a housing price decrease. Perth house price fell again by 1.2% last January. And it will continue to fall this year as houses figures are now down compared unit values. Will it be a sign for price stabilization or a weaker market?

According to NAB Chief Economist Alan Oster, “There was a potentially negative risk to the bank’s forecast of a 3% fall in house and unit prices in Perth in 2016 due to high unemployment, but the chances of double digit house price falls was low.

Domestic economy is on the edge of recession especially Western Australia which is mining –dependent. Based on the data, residential property sector weakens due to high unemployment and slow population growth has a huge impact on the housing market crisis and downside risk on the house prices.

Anyhow, Perth’s overall rental market are showing some signs of positivity even market continues to feel the pinch. There are some regions where the market is showing resiliency and hopefully moving in a positive direction.

https://housesmartrealestate.wordpress.com/2016/02/22/prediction-for-perth-house-price-nab


Comments(0)



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.”


Comments(0)