South Perth tipped to attract interest
INTEREST is strong and growing in the South Perth/Como rental market, according to Knight Frank Residential.
Head of property management Tom Berry said despite winter normally being quiet, evening and weekend home opens had been very successful, constantly attracting large numbers of potential tenants.
“We are seeing increased activity in the market from companies relocating staff back to Perth from the eastern states and also overseas students,” he said.
“There is increasing activity in the resources sector, which is also starting to filter through to the rental market.”
Mr Berry said the South Perth market was starting to reap the benefits of investment in the area by both developers and the local council.
“Potential tenants who once would have only considered the Perth CBD are now seeing that South Perth is the place to be,” he said.
“With new high-end boutique developments, such as Reva on the South Perth foreshore due to be completed in early 2019, I would say that the South Perth market will continue to increase in popularity over the coming 12 months.
“This will also have an impact on the weekly rents and we should start to see prices increase in the not too distant future.”
Regardless of the improving market, Mr Berry said investors still needed to present properties well to secure tenants.
“First impressions are everything. A property has to stand out online to entice a potential tenant to even attend an inspection. That is why we only use professional photos to advertise properties,” he said.
Using a property manager who provided a flexible service was also important.
“Property managers need to make sure we are available to show properties at times that suit potential tenants, not the other way around,” he said.
“Our vacant properties are available to be inspected any time between 8.30am and 5.30pm Mondays to Fridays and between 9am and noon on Saturdays.”