CONSUMER confidence is increasing as Perth’s property market stability continues, according to REIWA.
Reiwa.com data showed prices held steady in March, the median house price increased 0.5 per cent to $517,650 and the median unit price remained unchanged at $407,000.
“It’s pleasing that both house and unit prices are strengthening at the same time because it suggests one sector of the market hasn’t started to recover at the expense of the other,” REIWA president Hayden Groves said.
“Unit prices in Perth are following the same trends we have observed in house prices, with March being the third month in a row the unit median has remained stable.”
The top-performing submarkets for median house price growth in March were South Perth/Victoria Park, Fremantle, Belmont, Vincent/Stirling SE and the western suburbs, while in the unit market Joondalup South, Cockburn, Stirling West, Bassendean/Bayswater and Stirling East were the stand-outs.
Mr Groves said consumer sentiment in WA was the highest it had been since the height of the resources boom in mid-2013.
“Buyer confidence in Perth is increasing and based on where we are seeing the biggest improvements in price growth, so is demand for multi-residential dwellings in medium to highdensity areas,” he said.
“Additionally, optimism among sellers appears to be returning, with reiwa.com data for March showing listings for sale increased 3 per cent over the month. Sellers are feeling more confident as market conditions have picked up and subsequently more motivated to list their property for sale.” BUY SMART with Acting Consumer Protection Commissioner David Hillyard
RENTING a home is a good option for many consumers but sometimes the relationship between tenants and landlords can experience difficulties when issues arise.
Residential tenancy is a large part of the work we do at Consumer Protection. We give free advice to all parties in a residential tenancy agreement, look into complaints and, wherever possible, help to settle disputes.
Renting a home in WA is governed by a set of laws called the Residential Tenancies Act 1987 and the Residential Tenancies Regulations 1989. If we can’t negotiate a fair outcome to resolve a dispute, then it may be necessary for the matter to be settled in court.
Tenants and landlords have shared responsibilities when it comes to rental home maintenance and repairs. Obvious maintenance and repair issues should