- The Perth property market is still strong, but not as strong as it was
- The quality of applications has fallen; people are taking more time
- There is not as much stock coming through as there was
I’m always asked about the rental market, and what’s happening.
I can definitely say that the Perth rental market has slowed down, but is still strong. At home opens we are still seeing 5 to 10 people per viewing. People are not rushing or panicking, and are looking around.
The issue that property managers are experiencing is the quality of applications, which is a reflection of tenants being evicted now the emergency period is over.
I spoke about this issue last time as a forerunner to the eviction moratorium being lifted, and the end of the associated rental freeze.
Tenants are also mindful of landlords taking advantage of the market and putting too high a price on properties and being careful when choosing a new home.
It is an interesting time in the property management market, which I explain in the video in more detail below…