WA Excerpt from the 2020 September Market report

23 Sep 2020

The city’s vacancy rate has dropped to 1.6% in July, the lowest level recorded since March 2008. The conditions of Perth’s rental market indicate a substantial imbalance between supply and demand.

Perth's vacancy rate has remained below 3% for 21 consecutive months, which has ensured rents generally started to stabilise after the post-mining boom downturn, said Damian Collins, president of the Real Estate Institute of Western Australia (REIWA).

"However, with it now sitting below 2%, we are starting to see the impacts of limited stock, and it is only a matter of time before rents rise. In some areas, agents are reporting rents are already on the move up," he said.

Collins said it is vital for the state government of Western Australia to remove all restrictions and limitations for non-COVID-19 affected tenants with the review of the Residential Tenancies Act 2020.

"Investors are concerned about returning to the market due to the limitations on their ability to put rents to market and evict tenants who do not pay their rent," he said. "If we don't encourage investors back into the market, then the rental shortage will only get worse."

Area

Property Type

State

Median Price

Quarterly Growth

12 month Growth

Weekly Median Advertised Rent

Gross Rental Yield

Metro

Houses

WA

$462,000

-1.0%

-2.1%

$370

4.1%

Metro

Units

WA

$339,000

-1.1%

-3.7%

$335

4.8%

Country

Houses

WA

$320,000

-1.5%

-1.5%

$350

5.6%

Country

Units

WA

$176,250

-3.4%

-10.0%

$300

7.9%

 Source: CoreLogic, August 2020

Top Suburbs : goulburn , north lambton , nundah , reservoir , mortdale

SHARE

Get help with your investment property


Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

 
How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here