Australia Growing Tall As More Apartments Built Than Houses
According to recent ABS data, a record number of apartments have been built, for the first time exceeding the total number of houses built.
Diminishing housing affordability in several of Australia’s capital cities is contributing to a rising amount of renters. Many of these people are opting for smaller maintainable spaces which apartments often provide.
With 28,527 units constructed over the December 2016 quarter compared to 28,102 houses, experts believe the trend towards taller infrastructure will become increasingly prominent as investors continue to maintain confidence of capital gains from off-the-plan properties.
However experts go on to state that the nation-wide unit construction boom has to be attributed to the east. Perth is considerably an outlier to the rest of the nation with an existing surplus of supply for renters in this market.
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One of the hardest decisions for a landlord to make is whether or not to accept dogs. On the one hand, many tenants can’t opt for a home that isn’t pet friendly. On the other, could dogs lead to higher maintenance costs? Find out our take on the matter.
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Here’s a snapshot of the Perth rental market
Overall median rent in Perth sits at $350 a week with median house rent at $370 a week and median unit rent at $340 a week. The vacancy rate for March 2017 was 6.3% – reiwa.com.au