Perth Vacancy Rate Increases To 10-Month High
The biggest one-month increase since April 2020.
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The Perth vacancy rate increased to 1.2 per cent in June 2021, the highest-level Perth has seen since August 2020.
REIWA President Damian Collins said not only was it the highest vacancy rate Perth had seen since August 2020, but it was the biggest one-month increase since April 2020.
“While we are still a way off the two to three per cent figure required for a balanced market, the improvements observed since the end of the rental moratorium are encouraging and suggest there is light at the end of the tunnel,” Mr Collins said.
Since the end of March, reiwa.com data shows listings for rent have increased 5.7 per cent in Perth.
The five suburbs to record the biggest percentage froth increase in rental listings include Balga (+108%), Highgate (+90%), Osborne Park (+67%), Karinya (+60%) and Piara Waters (+54%).
Mr Collins added that the increase in listings shows confidence in the market starting to return and is backed by the latest Australian Bureau of Statistics data which indicates investor loan approvals in Western Australia to $498 million in May 2021 – up 10% when compared to April 2021.
However, Mr Collins adds, “As the year progresses, we should see more available rental properties hit the market as investors return and current tenants take advantage of WA’s affordable house prices to become first home buyers.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
