Mid-Year Insights into the Perth Property and Rental Market 2021

Arguably, not much is fickler than the property market. There’s so many factors that determine the value of a property, from its suburbs reputation to demand and the economy.

The property market here in Perth, both in the buying and leasing realms, really became the talk of the town from the middle of last year due to unparalleled demand.

But what about the current state of it now, in June 2021, and insights into the near future?

Wanting to know the 2021 mid-year insights into the Perth property and rental market and what it means for you?

Read more from Thought Leaders Real Estate, to find out.

Show me the figures

Let’s find out the latest REIWA data for property purchasing and rental securing.

Property purchasing in June 2021: 

·         When it comes to property sales activity, there was a 2% decrease, with 952 transactions in the first week of June.

·         Down? Are you sure? This is because of a 16% drop in unit sales, yet house sales enjoyed a 2% increase and vacant land, an impressive 13% jump.

·         9,054 properties are listed for sale (or were depending on how quickly they were snapped up) at the start of June 2021, with a small decrease in listings with house, unit and vacant land stock by 1%, 2% and 2% respectively.

Looking for a rental in 2021?

·         There were 2,815 properties listed for rent through REIWA in the first week of June. 1% lower than listings at the end of May.

·         The vacancy rate in June 2020 was sitting at 2% with a March 2021 rate of less than that at 0.9%. Watch this space for the figures for the next quarter, which will be released soon.

·         With the end of the rental moratorium on 28th March 2021, the median rent for a house jumped from $370 in June 2020 to $430 in March 2021, and for units, $335 to $390 in the same time period.

This means now more than ever you need to be prepared with your rental application. Trust in a Perth real estate agency to help you on your property searches.

What does it all mean?

The above figures provide predictions for many things. One is that of buyer confidence, which continues to gain momentum. According to REIWA President Damian Collins: “if you are thinking of purchasing your first home, you can be assured there is still excellent affordability in the WA market.”

If you’re in a position to buy instead of rent, then do so.

Property purchasing not on the cards for you right now? You need a real estate agency to help you secure a rental that meets all your needs.

Professional Perth property management

Thought Leaders Real Estate provides industry-leading property services for people who seek a home to buy, home to rent and property investors.

We keep up to date with all the latest property data and predictions to ensure you are getting the best property and service at the best deal.

Need help finding your dream property?  

Contact Thought Leaders Real Estate in Perth today for professional property management, buying and selling services.