Is a Perth Real Estate Boom Predicted in 2021?

In a year that was like no other, it’s hard to imagine a global pandemic had such an effect on the Perth property market. Yet, it did – and in 2021, we’re to see it all play out. 

What will 2021 mean for buyers, sellers, tenants and investors? 

Is a Perth real estate boom really predicted in 2021? 

Read more from the Perth real estate agency you can always rely on, Thought Leaders Real Estate to find out. 

The statistics to know 

Did you know Perth housing sales surged to their highest level at the close of 2020 since the city’s last property boom in 2013? This is partially due to tightening supply and motivated buyers snapping up their own piece of COVID ‘safe haven’ Western Australia. 

Key property takeaways of 2020 shaping 2021: 

• The latter part of 2020 saw established homes in Perth up 29% than the same period of 2019. 
• People were returning to Perth from virus-stricken international countries, and even back from interstate, to secure a home for themselves on our envious shores. 
• Record low interest rates, home loan holidays and working from home all added up to people securing properties for themselves, that they might not have done previously. 

REIWA’s 2021 outlook suggested the housing market will experience steady growth in both sales and rental market. So, let’s explore what’s in store for Perth tenants in 2021. 

What 2021 looks like for tenants 

Perth’s rental vacancy rate is at its lowest level in 40 years. REIWA President, Damian Collins stated the rate’s slip to 0.8% and median rent increased $10 to $390 a week. 

Yet, Perth remains the most affordable capital city to rent in. 

What’s on the cards in 2021? 

• An all-time low vacancy rate may present itself in early 2021, 
• However, once stabilised at the end of the moratorium in March 2021, investors will likely return to the market, which will lead to 
• Freeing up more stock on the market, easing pressure on rising rental prices. 

Discover professional property management in Perth for tenants with Thought Leaders Real Estate. 

Looking to buy, sell or both? 

Low rates, good prices, affordability and an established property market is seeing increased buyer demand. This is throwing the balance of power into the sellers hand. 

Looking to buy in Perth? You need a real estate agency in Perth who are transparent and true to you. 

You need the Thought Leaders in Real Estate by your side. 

The property management Perth experts to turn to 

Thought Leaders Real Estate are here to help enthusiastic first-time buyers, to tenants and seasoned property investors, too. 

Thought Leaders Real Estate help: 

• People buy a forever home or secure their dream rental, 
• Motivated sellers secure great buyers, and 
• Landlords and tenants with everything property management Perth. 

We know the Perth market, particularly the northern suburbs, exceptionally well and are ready to bestow our knowledge onto you. 

A real estate boom is certainly predicted for 2021. Secure your footing on the Perth property ladder with property management, buying and selling with a real estate agency in Perth with a difference. 

Need property management in Perth?  

Contact Thought Leaders Real Estate today for a real estate agency in Perth who works with and for all Perth property seekers.