October Market Summary

Despite CoreLogic’s Perth home value index declining 0.4 per cent in September, Perth remains in a better position that other Australian locations with strong buyer demand and many properties still selling quickly!

REIWA.com data revealed there were a number of Perth suburbs to record strong house price growth in September. Low availability of properties to buy continues to be a key reason why WA is not seeing the significant fall in prices like our Eastern States counterparts are.

Rental stock levels on REIWA.com are at their lowest in 12 years, with just 1,675 properties available for rent at the end of September.  The last time the levels were this low was in November 2010 with 1,537 properties available for rent.  Now is a challenging time for tenants, with rental supply struggling to keep up with Perth’s growing population.

Perth’s population has increased by 20 per cent since November 2010, which highlights how low the current rental stock is. With limited stock levels, WA is still in an excellent position for price growth with our strong economy and growing population.

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