The year just gone by has changed and shaped the world for many years to come. Interestingly enough, on a local scale, it has done the same to the Perth housing market.

Low interest rates, return of the expat and people who hadn’t thought of entering the market, doing so en masse, has created ripe competition.

Want to know more about how and why the Perth housing market is growing?

Read more from the Perth real estate agency, Pro Property Group to find out.

 

Purchasing property in Perth: March 2021

According to the CBRE Market Outlook report for 2021, Perth houses are tipped to grow by 9% to 12% and units between 5% and 7%.

There were stable property sales in Perth for the month of March, with the Real Estate Institute of Western Australia (REIWA) reporting 1,010 transactions.

The stock levels of properties for sale looked like this:

  • House listings increased by 4%,
  • Unit listings by 3%, and
  • Vacant land sales by decreased by 2%.

Why is this so?

  • A strong outlook for the resource sector,
  • Return of interstate migration,
  • The fruition of government incentives like Homebuilder and state support packages, and
  • Tight supply and increased demand.

The Perth property market has a cause and effect relationship. What has been stagnant for some time has now changed with large regard to the lifestyle and economic changes locally and globally.

The rental market in Perth: March 2021

You don’t need to be an expert to know something major has happened in the Perth rental market.

The end of the emergency rental moratorium ended on Sunday 28th March 2021, which means the freeze has lifted on rent payment increases.

What does this mean?

  • Perth’s rental shortage is tipped to ease as
  • Investors will have more incentive to buy property in W.A.
  • Landlords will be legally allowed to evict problem tenants, and
  • Increase their rent prices for the first time in 12 months to reflect the market.

Tenants who are anxious about these changes are encouraged to speak to their Perth property manager about the best fair outcome for both parties.

After all, Perth remains still, the most affordable city to rent in Australia.

Professional property management is what you need to successfully lease out or lease a property.

 

Pro Property Group knows property management in Perth

Whether you’re looking to buy, sell or rent, Pro Property Group is the team you can rely on.

Our combination of wisdom and experience and philosophies centred on integrity, flexibility and innovation allows us to really set the standards for a Perth real estate agency.

Pro Property Group help the people of Perth with:

Let us help you get the best deal out of the Perth housing market.

 

Need a real estate agency in Perth that you can trust?

Contact Pro Property Group today to find out how we will find the right property match for you.