Ac­tiv­ity up among buy­ers and ten­ants

Western Suburbs Weekly - - Residential -

BOTH Perth’s sales and rental mar­kets recorded im­proved ac­tiv­ity in the three months to March, ac­cord­ing to the lat­est data from REIWA.

House sales trans­ac­tions in­creased by 30 per cent and leas­ing ac­tiv­ity in­creased by 24 per cent.

REIWA pres­i­dent Hay­den Groves said it was en­cour­ag­ing to see mar­ket ac­tiv­ity lift no­tably across both sec­tors of the prop­erty mar­ket.

“Signs are cer­tainly be­gin­ning to sug­gest that the worst may be over in

Perth,” he said.

“Home­buy­ers, in­vestors and ten­ants are clearly tak­ing ad­van­tage of favourable con­di­tions to se­cure their dream home, prop­erty in­vest­ment or rental lease.”

Leas­ing ac­tiv­ity in­creased across Perth’s five sub-re­gions and was up 35 per cent when com­pared with the same time last year.

“While the rental mar­ket cer­tainly still presents its chal­lenges for land­lords, with list­ing lev­els re­main­ing high, ten­ants are very ac­tive right now,” Mr Groves said.

“I ad­vise land­lords to lis­ten to the ad­vice of their prop­erty man­agers when ad­ver­tis­ing their prop­erty for lease.

“The mar­ket re­mains com­pet­i­tive, but pro­vided your rental is priced and pre­sented well, you have a very good chance of se­cur­ing a ten­ant.”

In the res­i­den­tial sales mar­ket, data showed house sales ac­tiv­ity held up rel­a­tively well on an an­nual ba­sis, drop­ping slightly by 1 per cent in March 2017 com­pared to March 2016, while list­ings for sale de­clined by 3 per cent on an an­nual ba­sis.

“Sales ac­tiv­ity in Perth ap­pears to be sta­bil­is­ing,” Mr Groves said.

“We’re not see­ing the big shifts in lev­els that we once were and in fact we’re reg­u­larly see­ing ac­tiv­ity lev­els show signs of im­prove­ment, which is pleas­ing.”

Hay­den Groves

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.