REIWA Stats based on week ending 22nd December 2015
Please find below the Perth Metro Market Snapshot for the week ending 22nd December. The vacancy rate stayed steady at 5.6% as we thankfully found activity to the lead up to the Christmas period to be much busier than normal which made up for the quiet first couple of weeks in December.
Dare we speculate for the property market in 2016?? ….
The 2015 property market was heavily dependent on the downturn of the resources industry, with higher than average sales stock levels and falling rents. As a result, there was strong pressure on Property Managers to retain and attract quality tenants. Looking forward to the new year, we can likely expect demand to remain soft, at least in the short term, but this makes for an opportunistic time to acquire more affordable investments before the market stabilizes.