Leasing Trends & Insight Perth
The Perth vacancy rate is 1% lower than the national average and declined again in October to 0.5%, the vacancy rate is lower than the same time last year.
Over the past 12 months, the market has made a swift recovery due to high internal migration rates, in fact, internal migration reached its highest point in 8 years. This has caused increased demand for housing.
The most search terms on Domain were pools, air conditioning and garages these are chattels that renters are looking for, so make sure they are listed if you have them!
Since 2018, investors are making a comeback – roughly 20% of loans are now with investors.
Rents over the September quarter remained at a 6 year high of $450 for a house and $380 for a unit. House rents are $40 lower and unit rents are $70 lower than the highs of 2013. With a shortage of rentals, it looks as if rents could grow.
With over 80,000 people due to return when borders open now is the time to get into the market! Always talk to your financial adviser first.