In view of the current situation where you and I are facing, many real estate investors are asking what the vacancy rate in Perth rental market is. Is it up, down or flat?
Have
managed to pull out 2 articles and would like to share my personal view on
this.
 |
| August 2020 Article |
 |
| September 2020 Article |
From the August 2020 article, it said that vacancy rate was 1.6%. And, when you look at the September 2020 article, it said that vacancy rate now is 1.3%. There is a drop. What does it mean? It means that fewer and fewer properties would be left empty. To quote Martin Berry (owner of The Professionals in Rockingham) from the August article, she said that she had not seen anything like the current market in her 16 years in the industry. Her company had 720 properties on their books – two are vacant.
Interestingly, from the 2 articles, it brought up this particular residential property called NV Apartments located at Perth CBD as a case study. In the August article, there was such a high demand of NV apartments that there was a tenant waiting list. Whereas in the September article, an inspection held for 2 apartments has attracted 35 people as shown in the picture.
Is this a good news for investors?
Clearly, the rental market has tightened. If you have a property that is ready now for leasing, you bet there would be tenants knocking at your door.
Feel free to share your thoughts with us. You can share your thoughts through my Facebook Page - https://www.facebook.com/overseasrealestateinvestment/
Stay safe
and keep healthy.
Thank you for your kind attention.
