According to Domain Perth's residential rental rates hit their highest in fives years. The house median rental rate increased 6.3 per cent in the past three months since December. The average rental amount has jumped to $420/w, whereas unit and apartment prices jumped to $350/w, a 2.9 per cent increase.
With demand under pinning the increase and pent up demand for accommodation driven by interstate migrants and returning WA citizens, it is anticipate these increases will continue for some time yet.
As a result we expect an influx of Investor's returning to the Perth residential investment sector pushing pricing up. Based on current data, we expect a run on Perth property over the next 2 years at a minimum.
If you have any questions regarding a home loan or wish to become a Property Investor, please call Joondalup Home Loans, Mortgage Broker Joondalup.