Property News Wrap Up, March 2017

WA housing prices to fall as oversupply hits

The ABC has now warned that investors should be aware of strong indications that oversupply has now become a very real issue.

BIS Oxford Economics data shows that Western Australia will have 14,600 dwellings above and beyond demand by the middle of this year. By June 2018, estimates suggest that there will be an excess of 17,500 dwellings across the state.

To the investor, this means that rental agreements with a desirable weekly rental income will become increasingly challenging to secure; particularly for self-managed properties. Fierce competition will also insight competitive rental pricing, so enhancing and highlighting your properties features will be essential to attract and retain renters. Home improvement is also a good preventative measure against break-leases.

The perfect tenant

Families can make great tenants. The key is knowing how to attract them. Take a look at some of the things you can do to your property that will help attract applications for long term contracts from families.

House A vs House B

Recently we have had two similar properties for rent in the same suburb. Both with great design, but one quite basic in decor, and the other with more style and personality. Which got the higher weekly rent? See our tips on getting the highest weekly rent.

Here’s a snapshot of the Perth Property Market in March

perth property market update march 2017