There is no hiding the fact that the Perth rental market is strong for investors. Demand is high and stock is low and it is causing what the media call a “crisis”.
January saw the vacancy rate drop below 1%.
Our experience has seen investors that have previously purchased in the boom, quickly put their property on the sales market to liquidate.
The people that are purchasing are parents who are stressed that their children can’t secure a rental property and are securing something for them. What a cycle.
As we approach the end of the emergency period, we are seeing landlords and property managers take advantage of the opportunity to increase the rents.
We are not talking small $10 per week increases either, think $20 – $100 per week increases. Only time will tell what the repercussions of this will be, but I am pretty confident in saying that landlords will have the upper hand for the rest of 2021.
My 3-minute video below explains…