11/04/2024
“Some of our members are reporting there has been a slowdown in demand for the higher end of the market. And we can see this in www.reiwa.com data, which shows homes priced over $1,000 per week took a median of 20 days to lease in the March quarter." REIWA President Joe White
As someone who deals in the high-end rental market, it will come as no surprise that this is not where the rental demand sits. For homeowners who still want to keep a foot in the Perth property market, rental returns are still healthy at this level and a good option if selling is not on the table.
Building delays and strong presence in our energy and mining sectors will still attract tenants who are looking for luxury family homes.
The agent's network and their ability to seek out tenants can be a valuable tool in securing tenants quickly and keeping the days on market to a minimum.
On the overall picture, I sincerely hope investors far and wide will be encouraged by the good opportunities in WA, bump up that supply and create some relief for tenants overall.
https://reiwa.com.au/news/perth-vacancy-rate-hits-new-low/
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