Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Volatility creates difficulties for PMs

By Elyse Perrau
17 September 2014 | 1 minute read
Perth city

Managing properties in Western Australia can be more difficult than other states thanks to the volatility of its “transient population”, says the Real Estate Institute of NSW president.

Advertisement
Advertisement

Speaking to Residential Property Manager, REINSW president Malcolm Gunning said Western Australia is a smaller and more unique market.

“There is a lot of internationally-owned property in WA, and a lot of them are miners who buy second properties,” he said.

“Rents tend to be high and there tends to be a bit of a transient population – so they are not quite as easy to manage as Sydney – it is a bit more of a volatile market.”

Real Estate of Western Australia president David Airey said this is a “big generalisation”.

“I think if we divided that up and said, in WA’s north west region in big towns like Karratha and some of the smaller centres surrounding that, there is certainly a much more transient population, but the Perth metropolitan area is not affected by that to any extent,” he told Residential Property Manager.

“It is more confined to the mining regions.

“It just means there is a greater turnover of tenants rather than more difficulty  there is a greater cost involved.

“I haven’t heard of or noticed anything more difficult about the Perth metro area in respect to that; certainly fly-in, fly-out workers do account for a significant proportion of tenants – a lot of them prefer to rent  but I don’t think it has created any more difficulties than we have been used to,” he added. 

Volatility creates difficulties for PMs
perth aerial
lawyersweekly logo

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.