Demand increases for Perth rental properties

By |

The new year has signalled a new beginning for the Perth property market, with agents reporting a surge in demand for rental properties and increased buyer confidence.

As a result, Shane Kempton, CEO of Professionals Real Estate Group, is advising Perth renters to lock in rents now due to a significant tightening of the market. He added that the number of vacant rental properties has dropped by almost 3,000 over the past two years.

“In particular,” he said, “we are finding very strong demand for established family homes that have easy access to the city centre … and these homes are being leased within 7 to 14 days when they become vacant.

“Over 2018, we expect this wave of rental demand to spread across the overall Perth rental market as demand for rental properties starts to outstrip supply.”

According to Gavin Hegney, company director of Gavin Hegney Property, while the Perth property market began 2017 in “the doldrums,” this year opened with better prospects for the Western Australian capital.

He forecasted that trade-up buyers would continue to be active this year, one of the first signs of market recovery.

“The next area to watch for is the rental market, which will assist in the broader market, and we are already seeing the velocity of properties turning over quickly and the number of properties available for rent dropping,” he told the Domain Group. “So there are already signs there that the rental market is starting to correct.”


Related Stories:
Housing Affordability Surges In WA
Perth’s Rental Market Has Begun To Rebound

 

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : east victoria park , upper kedron , artarmon , torrensville , berala

go back
Comments
  • R says on 01/02/2018 10:08:32 AM

    Bullsh*t

  • R says on 02/02/2018 10:09:42 PM

    Why is that bullsh*t big R

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 Aussie 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