Are rentals in demand in Perth?

Are rentals in demand in Perth?

“Our vacancy rate across WA is very low, however every week more than 700 properties just in Perth are leased by REIWA agents, meaning that there are still properties available.” The national rental vacancy rate fell to one per cent in March, halving year-on-year, Domain’s latest Rental Vacancy Rate report found.

How is the rental market in Perth?

An April review by CoreLogic revealed median rents were already up 2.2 per cent last quarter, and up 5 per cent this year in Perth’s most affordable suburb to rent Midvale at a median of $371 a week.

Is East Perth a good place to live?

With its uber proximity to the city, the river, parks and other precincts such as Optus Stadium, East Perth is a really is a great place to live. It’s got something for everyone, from playgrounds, parks & gardens, walking & running tracks, public open spaces, and a broad range of architecture – old and new.

Will property prices drop in Perth?

Perth property prices are forecast to fall 8 per cent next year as the effects of the Reserve Bank of Australia’s interest rate hikes kick in. New forecasts from the Commonwealth Bank on Thursday suggest the RBA’s tightening will have an enormous impact on gross domestic product and the broader economy.

Will rent go down in 2022 Perth?

Perth rent prices expected to go up 2022 may well see median rent prices rise by 10 to 15 per cent, which will be a drawcard for investors. REIWA says that despite the escalation in rent prices, the rental market in Perth remains affordable.

Where is Perth property market going?

Following strong gains posted in the year to June 2021, they’re now predicting a further 18.8% growth in median house prices over the next three years to 2024, fuelled by WA’s strengthening economy, rising activity across the mining sector and the relative affordability of property prices in the western capital.

Is Perth having a property boom?

The nightmare that Perth’s residential market was meant to have during COVID-19 never quite came. Instead, Perth property sales hit their highest level in seven years, with established home sales 29 per cent higher Y-o-Y in the three months to November 2020.

Is Perth housing market going to crash?