Perth Rent Increasing

by Joy Manginsay 23. November 2011 18:00

“Rent in Perth has increased by as much as 18% in just three months in some areas”, according to some real estate industry. Many renters will not move out of home because rent is overpriced and unaffordable. The minimal supply of houses in Perth CBD led to the average rent climbing and most renters give an offer to $20-30 above the asking price to secure a property. According to WA readers claim they are being forced to live in suboptimal properties, and pay for the privilege. Readers claim it is a house renter’s market, can charge overpriced with any mediocre made to their properties and people will pay it.

According to REIWA President David Airey said, “Prices would only get higher as more people flooded into the city because new homes were being built at a far slower pace”. The vacancy rate was critically fallen to 3% and a shortfall of available rental properties. Right now, strong demand for rental properties is increasing and the pressure is coming from new arrivals in WA for employment. But still, Perth Rent will remain soft for coming months because WA needs more opportunity and a price decrease for sure. However, a window of opportunity was opening now and it would last over the Christmas period before the most competitive time of year.


12/6/2011 11:30:28 AM #

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