Posted on Thursday, February 10th, 2011 in by Matt Garmony
Real Estate Institute of Western Australia (REIWA) president, Alan Bourke, reported their statistics indicate that residential rental rates in the Perth metropolitan area have increased by approximately $10 per week and the vacant rate for the January had dropped to 3.4% down from 4.1% for the March quarter last year. Garmony Property Consultants are of the opinion if the vacancy rate continues to fall supply and demand pressures will force the median rental rate upwards, which may increase the number of investors in the market. However with anticipated increases in interest rates later in the year, we do not foresee, a strong increase in market values in the short term. – Matt Garmony, Licensed Valuer Perth.