TOOL TO HELP MAKE DECISION
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.