Based on the preliminary data from the Real Estate Institute of Western Australia, “The vacancy rate for available rental properties in Perth has jumped to a 14-year high of 4.8%.”

Since December 1995, this is the highest vacancy rates but median rent remains steady at $360 per week. There are a lot of vacant properties in Perth and no oversupply seen in the market. On the other side of the market, due to vacancy rate rise, there are a lot of squatters which taking advantage of Perth’s highest residential vacancy rate. This is now the country’s hotspot for squatting problems. There are more than 10,000 properties available for rent in Perth nowadays and market indicated no housing shortage for this year.

http://www.yourmortgage.com.au/article/perth-rental-vacancy-rate-hits-14year-high-78927.aspx

 


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Modelling from a Labor – aligned think tank, the McKell Institute, found house prices wouldn’t grow as strongly over 10 years but would not crash.

These are a lot of negative speculation about housing bubble and housing market is “fully-priced”. Commercial rates and unemployment are the internal factor that possibly affect but not a danger though. There is momentary oversupply of housing and they think that this is a threat because of the mining sector and house price is highly increasing. Despite and in spite of, housing market were supported of the immigration, investors and strong population growth. Low interest rate is one factor that contributes to higher house prices which hold at 1.75% as of this month. The market is quite strong and predicted that there won’t be much growth for the coming years. We are experiencing overestimated but not extreme condition, therefore, no crashing of housing values.

http://www.perthnow.com.au/realestate/buying/why-house-prices-wont-crash/news-story/09f0ef5d934ed7b6526d9e9ff99cfc83


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