TOOL TO HELP MAKE DE­CI­SION

Eastern Reporter - - Residential -

DE­CID­ING whether it is bet­ter to buy or rent might be­come eas­ier, with REIWA and Curtin Uni­ver­sity launch­ing a new prop­erty tool.

The Buy-Rent In­dex could help de­ter­mine the best time to buy or rent in the Perth metro re­gion, based on past and cur­rent eco­nomic trends.

The in­dex is for­mu­lated on eco­nomic as­sump­tions that help iden­tify the an­nual house price growth rate re­quired for home own­er­ship to be fi­nan­cially ad­van­ta­geous over rent­ing.

June quar­ter fig­ures in­di­cate the Perth me­dian house price would need to ap­pre­ci­ate by 4.3 per cent an­nu­ally over the next 10 years for the pur­chase of a house to be con­sid­ered fi­nan­cially vi­able over rent­ing at the me­dian rent.

REIWA chief ex­ec­u­tive Neville Pozzi said the in­dex was a guide only and prop­erty seek­ers should care­fully con­sider their per­sonal and fi­nan­cial cir­cum­stances.

Fig­ures for the Septem­ber quar­ter will be re­leased late De­cem­ber.

Dale Al­cock and Sam Klop­per at Dwell Apart­ments.

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