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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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WA property vacancies surge

By Staff Reporter
15 October 2009 | 1 minute read

While vacancy rates are sitting at historic lows in NSW, it seems Western Australia is suffering from the reverse.

The number of vacant properties to rent in Perth has hit its highest level in 14 years, with the recent surge in first home owners largely responsible.

According to figures from the Real Estate Institute of WA (REIWA), the western state has a vacancy rate of 4.8 per cent, one third higher than the June quarter and the highest level since December 1995.

REIWA president Alan Bourke said the surge in vacancies was thanks to strong demand from first home buyers and an increasing number of new homes being built.

But despite the surge in vacancies, the average weekly rent did not drop for the quarter, staying at $360.

APM economist Matthew Bell said rents would probably start increasing early next year as the economy improved and the first home owners grant was phased right back, resulting in fewer first home buyers.

 

WA property vacancies surge
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Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
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.