Business
Perth real estate: Rental vacancy rate nears record lows – PerthNow
“It’s important we get investors back into the market, otherwise there will be a significant increase in the demand for public housing.”
PERTHs rental vacancy rate dropped slightly to 0.95 per cent in October, according to the Real Estate Institute of WA, taking it closer to the 40-year low of 0.8 per cent recorded in 2007.
Rents for new leases were rising and demand was high, but REIWA president Damian Collins said investors were not responding in large numbers despite it being an ideal time to enter the market.
In 2007 when the vacancy rate hit below 1 per cent, investor lending activity in the peak six-month period was $5.8 billion,…
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