Will COVID-19 Affect The Perth Rental Property Market In 2020?

As the experts in Property Management in Perth, Thought Leaders Real Estate are often asked to make comment on key issues affecting the Perth Property Market. The current climate globally will leave no Country or City unaffected in some way by the Pandemic that is sweeping the world. But, what does this mean for rental Properties in Perth?

There is no question, all our lives have changed in some way, what we are all currently experiencing is the new normal and it will likely be with us for some time to come, it is important we embrace this new normal, this will make the road ahead an easier one.

As Australia, Western Australia and more specifically, Perth, make their way through this current crisis, we must look for the overwhelming positives, currently, we are all in a very good position from a health perspective, very little community transmission has occurred and I am sure, like us, we all have our fingers crossed and have a shared determination to stay the course and beat this thing.

It has been about 4 weeks of some fairly robust restrictions and most people are making comment that things must be tough out there in the Perth Property Management world, however, at this present time, things are actually very strong. At a company level, Thought Leaders Real Estate are not experiencing any great downturn with respect to demand for Perth Properties for Lease, we are not experiencing any measurable drops in the values of Properties in Perth either, things have simply continued as usual on that front from the very strong start to 2020.

As of writing this communication, we have a less than 1% vacancy rate, a key measure in determining the strength of the market and of course the quality of a Perth Property Manager, the lower the vacancy rate, the better.

Of course, the future has some uncertainty to it, however, at this current juncture in time, the Perth Property Market is fairing exceptionally well. We are of the opinion that the worst in this current crisis should be past us, people in Perth have adjusted well to a different way of living and that Perth Rental Properties should in fact be relatively unaffected in 2020.

Rental Appraisal
Posted on Wednesday, 22 April 2020
by Matt Travia in Latest News

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