Perth CBD Rentals driven by mining demand

Commenting on the Perth CBD Rental market, according to MLG Realty Chief Executive Marcus Gilmore, “Mining companies now held at 56% of the CBD leasing market, up from 45% last month, with many properties rented within an hour of hitting the market”. The result for the multi-speed economy especially the mining sector is very influential in housing market. The resource driven markets makes to have high demand, improved demand for rental and capital gain which many investors wants to invest and attract them to start a business. The median house price of Pilbara’s Port Hedland is $775,000 and rentals yields to 13% which considered as top the list of percentage with the benchmark. Mr. Gilmore said, a two-bedroom furnished apartment would rent for between $700 and $750 per week and He’s forecasted for the similar increase in CBD rents to Karratha and Port Hedland. HouseSmart Real Estate suggests that Perth property investors should consider adding some inner-city apartments to their portfolio.