12. August 2014 17:48
REIWA reports that Perth’s property market cooled further in July with lower sales turnover, fewer listings and a slight median price dip.
According to REIWA President David Airey, “July figures were normal for winter and expected the market to pick up in spring.
The July quarter indicates that the declining trend in Perth’s median price has continued. It is not surprising to have this result because of the affordable market which pulling down the median. Some suburbs dropped their rents per week but Perth’s rental market is steady over the period. The prices were down and the rental market is cooling with median price decline by 1.8% at the three months to April. Perth median rent is still $450 per week and predicted the rise of vacancy rate. Therefore, if the vacancy rate is increasing, probably the rents will become soften.
7. August 2014 22:31
According to REIWA, “There has been a one percent fall in June quarter median house price over the period from May to July. The current median house price now sits at around $520,000.
The latest Real Estate Institute of Western Australia (REIWA) market snapshot for the three months of July shows the Perth sales and rental markets have softened.
REIWA released the market snapshot for three months to July and it shows that there was a fall in June quarter median house price. Maybe some were noted for a small softening in sales. The rental market represents stable because there is no change but compared last year, there is a big jump. The latest median rents in Perth were stable at around $480 for a house and $455 for a unit, apartment or villa. If mining will boost, it really helps the market to become stable. There is a possibility also that interest rate will changed.
25. July 2014 18:28
According to operators canvassed for a Sunday Times Real estate marker wrap, “ Buyers and sellers are on wildly different pages as Perth’s property market transitions from “buy” to “steady”.” Many Investors are usually watch the market closely and noticed a massive decline in people at home opens. Will the house prices collapsing or it is a good time to buy? The market is now dominated by “consistency markets” because of the low interest rate and a decline of housing growth. If there will be an increase of interest rate, there will be a possibility to stabilized the market into a busy market.
16. July 2014 23:08
According to Reserve Bank of Australia’s Economic Research and Financial Stability Department, “If potential home buyers expected house prices to rise faster than 2.9% (a year) then buying would be more attractive than renting.” House prices would have to rise but house price growth was to be slower, therefore home buyer would be financially better off renting. When the price growth will likely somewhat less in the future, it affects the house prices, interest rate and rent, household is probably better off renting than buying.
“If real house prices grow at their historical pace, then owning a home is about as expensive as renting.”
15. July 2014 19:07
Rental growth has been outperforming in the economy. Perth has the 3rd highest median weekly rent in Australia. But will it be sustainable or likely fell down?
According to REIWA President David Airey, “The Institute’s preliminary analysis for the June quarter showed the median rent down by $10 to $450 per week.”
According to Real Estate institute of Western Australia, “Perth’s median rent has taken a further tumble.”
When the demand was so high in the previous months, investors had built buildings and houses to supply the demand. But due to increase rental stock, rent softens and vacancy rate has risen by 4.2%. Perth experienced also rent increase due to localized demand. Property market is no different and it will be continue to become affordable.
7. July 2014 18:25
Buyers are seeking areas that is affordable and that area is in Perth. The price growth in Perth is still continuing despite the ups and downs of the housing market. Perth still offers the investment potential to the investors and home buyers. Will it be the reason why Perth has a solid market?
According to Property Analyst RP Data, “Perth’s property market has had a good end-of-financial –year report. It wasn’t the best performer of the capital cities and it wasn’t the worst, but the latest figure from the RP Data Rismark Hedonic Home Value Index shows Perth dwelling values performed solidly in the 2013-14 financial year.”
House value growth dwells values lifted 1.2% and Units continued to raise even the houses swinging. The rental vacancy is still high and housing demands are coming the way that invites investors to build houses. When the demand will continue to rise, many investors invest the market which driven the property market become more solid.
3. July 2014 18:24
According to Real Estate Institute of Western Australia (REIWA) “The median prices for a house in Perth has risen to $549,000. Perth property prices finished the financial year up to 6%.” Perth’s median rent has remained stable with no change of $450. Despite of the more properties coming into the market and an increase in available rentals, there is still enough confidence in the market.
REIWA President David Airey said, “It’s a very stable market with a steady median house price steady rental price, steady vacancy rate and sales listing trending back to normal levels.”
The Perth housing market appears to peak the growth and we will see the sedate growth condition. Demand is still solid in Perth market but Perth will see more housing and rental on the market. Therefore, Perth has strong rise in economic growth and low interest rates are certainly a help in Perth property market.
1. July 2014 18:20
In Western Australia Economy, the fundamental factor that makes this city become competitive is mining, agriculture and industrial development. These can make encourage and attract investors and migrants to invest money. In all Western Australia Perth metropolitan areas have been revealed as the quickest-selling in the country.
According to a New Analysis revealing the fastest-selling markets in the country, “Houses are being snapped up most quickly in Western Australia and South Wales.” Perth’s Bassendean is the fastest growing council in the country and most active market for units. Gosnells, Cannington, Victoria Park and Belmont made into the top 5 also as the fastest selling Perth suburbs. Even the prices in Perth are rising, but still maintain the pressure in the property market. It keeps promoting and building new house that contribute the growth and development of the areas.
26. June 2014 18:22
When the demand is high and the supply is low, the price is high. But when the demand is low and the supply is high, the price is low.” In this saying, Perth property market boost because the house prices is high because of the higher demand of property. Mining is the number one factor why the demand is very high in this city. But nowadays, mining slowly down which the housing market affected. Will Perth property market continues to slump?
According the Leasing Agent Annette O’Brien-Oxley, “It was the middle tier of the market that was most affected. We’ve seen a remarkable drop off in demand, so the rents have had to reduce.” Mining sector slowed down in Perth, so demand is low also that’s why rent vacancies increases. But still, WA have few properties including Perth are available that put pressure to increase the demand.
Leasing Agent Annette O’Brien-Oxley said, “A number of them will fully furnished and equipped, so again there will be a big supply and we have to see where the demand is.”
11. June 2014 18:21
Based on the RP Data repot, there were 50,426 houses sold in Australia’s capital cities for the 12 months to March 31, 2014, which was 7.9% higher than the year before.
We all know that some of the capital cities perform well and recorded greatest annual growth. But Perth’s median house price dipped and house prices fell. Interest rate has caused the cool condition of the market.
According to RP Data Research Analyst Cameron Kusher, “The March quarter was the strongest quarter for house sales since 2009 and the strongest for unit since 2010.” The average price plummeting in Perth by 5.9% but Brisbane recorded the greatest annual growth in house sales by 23.6. There will be a possibility to weaken more the market due to stable interest rate. But there will still hope and anticipation to have better property market.