November update on Perth Property Market

Based on the REIWA real fact report that the number of properties on the Perth property market has increased slightly. On the first week of November, the Perth sales 1,179 sales per week compared to 900 sales per week from the month of October. The strength of demand in properties available for lease falls by 20% despite of the additional stock flowing into the rental market. According to REIWA President David Airey, "Both the overall median house and multi-residential rents increased by $10 per week for the quarter taking the median houe rent to $400 per week and the median unit rent to $380 per week." I think that predictions of an increase in Perth rent looks to be coming for increasing in buyer demand and it would help the interest rate and economy stay stable. Investors expect a significant increase on Property market next year with price growth.