Why Now? Why Perth?
Affordability is i Perth and Western Australia has continued to improve over the last three years, making now a good time to purchase property.
Interest rates continue to fall and are the lowest they have been for 50 years, which is great news for borrowers.
Rental Vacancy Rates
While rental vacancy rates have lifted in Perth in recent months, they remain low, which means that there remains strong demand for rental properties. Visit REIWA for the latest data.
The median rent in Perth has risen consistently over the past few years and sits at $480 per week in June 2013. This is up from $440 in June 2012. Visit REIWA for the latest data.
Western Australia remains the state with the fastest growing population in Australia.
Over the past few years, the number of new properties being constructed has fallen significantly below demand, meaning that there is now a considerable shortage of property available in Perth.
Forecasts for Building Activity
Building approvals in Perth have increased over the past twelve months and the market has seen a significant rise in investor activity in 2013. The Housing Industry Association forecasts housing starts will continue to increase over the next few years.