On one hand Perth vacancy rates have eased slightly. This is good for the rental market. On the other hand interest rates have gone up twice and this is not so good for the rental market. With Perth’s population increasing and any government intervention unlikely to make an impact for more than two years, the experts are divided on how, and when, our red-hot rental market will begin to find some balance.
Recent figures released by the Real Estate Institute of Western Australia show the number of rental properties on the market increased during the September quarter by 3.4 per cent. This is still tight, but at least a small an improvement on previous quarters. It might just be enough to lift the spirits of thousands of Perth tenants who have long found it difficult – and expensive – to find quality rental options. The light is finally starting to shine at the end of the tunnel. Maybe…Supply is also at an all time high and still being fuelled by investors looking to feed the strong demand with CBD apartment development at a consistently high level. However with a net positive population growth in Perth and plenty of young people choosing an inner city lifestyle, this supply is in constant demand.