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Perth Property Market on the Increase

A brief update on Perth's property market.
Perth Property Market on the Increase

The start of October has seen median prices remain stable in Perth. Rental vacancies remain low, with a vacancy rate of 1.6% whilst rental prices have also continued to remain stable. Gross yields sit at 4.3% for houses and 5.2% for units.

The property market has been busy with real estate agents cashing in on the upturn in sales activity (19%. Overall, house sales are up 58% whilst unit sales climb up 51%. In other news, an RBA cut is expected with a cut of 0.1% predicted. The Government is also set to relax measures from the GFC Royal Commission. Responsible lending obligations will be removed from the National Consumer Protection Act and access to credit will become easier for Australians and small businesses.

Source: Corelogic

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