16. October 2013 17:16
According to Real Estate Institute of western Australia (REIWA), “The Perth rental market is facing a downturn as vacancy rates rise and rents fall.” Based on the data overall median rent dropped by $5 to $470 per week. Nowadays, Perth has experienced a decrease in rental listings during the September quarter. Some areas of metropolitan Perth were experiencing growth so despite of the decrease, there are some part of areas increases. It is important also for the conditions to understand owners in rental return so that they set the price.
23. April 2013 17:28
We all know that house price and rent is increasing due to the market demand. Some of the states are competing but Perth leads the market although Perth is one of the expensive costs of living. But considering all the factors, Perth is the boost and competitive state to other countries.
According to the rental Report from Australia Property Monitors, “Perth and Darwin have both recorded 22% growth in median house rents in the past 12 months.” Population growth is the driving force in Perth market and it shows high level of demand from renters and buyers. Population growth in Perth leads the market becoming very competitive and house and rent have risen.
22. January 2013 18:07
Perth is one of the boom populations because of the job opportunities. Many migrants trying their luck in Perth in which the cause of population increase. Because of the booming population, rental tightened and cause of housing crisis. Would it affect the median house rent?
According to the prediction of APM Economist Andrew Wilson, “By the end of the year, WA’s rapidly growing population will make Perth more expensive for renters than Sydney, where the median rent for homes is $500 a week. Last year, Perth had the highest rental growth of all capital cities and based on the forecast, more people are coming in WA every week that makes Perth’s median house rent increase. Population will continue growing but the home built annually is not sufficient to supply the demand.
17. August 2012 18:00
Based on the RP Data figures, Investors returning to the property market and frustrated vendors unable to sell their properties have pushed the number of properties advertised for rent to 7057 up from 5732 in July 2011. Last month, there were more than 1000 properties were advertised compared with the same time last year. There were 3403 new listings last month compared last year with 2619 listings. Many owners prefer to rent out their property rather than to sell it.
1. August 2012 18:05
The latest Australian Property Monitors report shows, “Median asking rents for houses in Australia increased nationally by 0.7% while apartment rents went up by 2.5% in the 3 months ending in June.” Rental growth in Melbourne and Brisbane has remained flat over last June with $360 for houses and $380 respectively. Perth median rents have risen over the June quarter with 7.5% to $430 for house rent. The strong growth for Sydney and Perth will cause gross yield increases and become attractive to investors to seek capital gains.
14. May 2012 20:56
Based from the Real Estate Institute of WA (REIWA), Perth rental listings fell by 500 in just a week last month. The rental vacancy rate is now 2.3% compared to 2.8% last December 2011. However, despite the falling number of rental properties, the median rental price is still the same at $380 per week for a unit and $240 per week for a house.
According to REIWA President David Airey, “January was traditionally the busiest period for tenancy changes because more people moved in between school years and university students sought new accommodation.” Because of the unnaturally busier period of high demand, it really puts a lot of pressure in the rental market. It is a just a lack of rental properties and next few months, we still believe and anticipating a normalized market and rent price will be flattened.
23. March 2012 18:11
Based on the REIWA figures released last March 14, 2012, Tenants in Perth are facing higher rents because of the plunging vacancy rate for rental accommodation. Perth recorded a vacancy rate of 1.6% and it showed variation across the city volatility. The vacancies rate along Perth ranged from Scarborough at 1.2% and probably increase at 1.5% for the three months of February while the Western Perth suburbs have a steady rate at 2.3%.
According to REIWA President David Airey, “The fall in the vacancy rate is not surprising as we have seen the volume of property listed for rental fall 24%, from 2900 homes to 2200 at the end of February.” In this case, March quarter is the strong seasonal demand for rental property. Rental accommodation vacancy rate is sinking because of the pressure was coming from the people to rent rather than to buy. One factor also for growing rental demand is from the new migrants arriving in Perth.
15. March 2012 18:34
The tightening in the market today has been seen in the median rent for units, apartment, villas and townhouses increase by $10 to $390 a week. Based on the Real Estate Institute of Western Australia (REIWA) data, Perth’s rental crisis continues to worsen and vacancy rate falling as median rents rise. Along Perth’s North coasted market from Scarborough, vacancies upward was at just 1.25% for February and 1.5% for the three months to February.
According to REIWA President David Airey, “rents for multi-residential dwellings had goes up, rents for houses remained steady at $420 a week. The vacancy rate has tightened in Perth in which growing demand for accommodation from migrants goes up in WA. The long-term equilibrium vacancy in Perth is 3% in which property market is now positive and moving upwards.
21. October 2011 18:30
In the world of
challenging economic times, capital value and rental expectations for offices were
back down in all states. According to National Australia Bank
(NAB), rental incentive are still seen as key feature of the office property
leasing market in all states bar WA. Rental incentives
are now identified as “significant” in all commercial property markets. NAB
forecast, by September 2013, all commercial property sectors are expected to
record positive rental growth. September 2011 was reported as the weaker
condition in the market and industrial property was the only sector that
reported strong condition. “Positive growth is set to resume next
year with expectations for capital values and rents over the next 1-2 years
strongest in WA and Victoria, NAB said. There is a hope for the local retail
sector; WA will lead the nations in terms of rental expectations.
In the residential sector, even though the property market
moved back, many are eager to become reliant on public housing. However,
according to Professor Gavin Wood, Director of the RMIT Research Centre of the
Australia Housing and Urban Research Institute “Australia has a healthy private
rental market. The relative ease to renting in Australia might also be a factor in
the low mortgage default rates. People sell up before it gets to that point. In
housing house prices, we may establishing an income-tested housing allowance
that could go to struggling home owners as well as renters, and abolishing
subsidies for first-home buyers.
10. October 2011 18:44
Perth rents have showed upward movement and has been a huge demand for rental properties resulting in higher rates for houses and apartments, according to recent REIWA statistics.Perth Real Estate market continues to show with house prices dropping. The Reserve Bank lifted official Interest Rents in November, 2010 a move made close costing for borrowers. Cost Interest Rates really affects the Australia’s certainty of which way to move as the Aussie dollar drops. According to the REIWA, “As Perth houses sales rise by only percent for the September quarter, and villas and townhouses experience a 7% drop, more individuals are turning to renting which means rising rent for landlords”. Rising of Rent makes the individual to choose a rent which makes Perth rental market strengthened rental demand however some areas in Perth have performed better.
According to Mr. David Airey, REIWA President, “Both the overall median and multi-residential rents increased by $10 per week for the quarter, taking the median house rent to $400 per week and the median unit rent to $380 per week”. The market conditions certainly fall over for the landlords and still Perth performed better compared to other cities and which has the highest-recorded average rent increase. Perth has lower rent increase and still coping the market stability and ensures to have good outcome for both landlords and tenants.