BOOMING RENTALS

Perth is a landlords’ market and remains one of the more competitive capital cities for tenants, driving rent increases. 

It is not unusual to see a seasonal lift in asking rents during the busiest rental changeover period, it is a particularly poignant time given the rent upswing over the past year therefore landlords are adjusting to current market rates.

 Although the interesting difference this quarter has been the lifting of strict Western Australia border controls in early March supporting another wave of new demand, freely allowing an easier relocation from overseas and interstate. 

Perth has been benefiting from a positive net flow of residents into the city, although easing slightly from the highest point in about eight years. This has been a huge change for the city that had seen a drain of residents away. 

Open borders, high vaccination rates, and eased restrictions provide clarity for residents, this could create a shift in tenancies, with some residents opting to return home. Rapidly rising rents have seen gross rental yields improve for two consecutive quarters suggesting rents are rising at a faster pace than purchasing prices. 

Investors will find that gross rental yields for houses and units are at the highest point on record for Perth. This could help to attract investment activity particularly given Perth offers the highest house yields of all the capital cities. (supplied by Dr Nicola Powell Senior Researach Analyst Domain)

The people in Perth that have been renting during the Covid period are now having trouble adjusting to the rental increases.  Although some landlords/rental agencies are putting up some of their houses by $200-$300 dollars per week, pretty tough to absorb and there are people that have just had to move out as the price hike is just too much for them.  During covid and the prices of rentals were pretty low now they are just adjusting to back to where they were before.

Good time for investors to pop into the market as the yields are certainly looking a lot brighter for them and it's a much better return than putting your hard earned dollars in the bank.

Ah I can hear those negative nellies saying interest rates are on the way up (of course they are we have all been expecting those for a couple of years) ah but there is an election coming - so what it wont matter who get's in not going to change real estate and the fact the prices are rising and will continue to do so in Perth as if you may have not noticed we have been in a slump for 7-8 years.

Whatever you do DO NOT LISTEN TO PEOPLE who dont have real estate as they are never positive about real estate.  Real Estate is not a quick turn around usually you should keep real estate from 5-10 years to realise your money.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!