House rents stagnant but unit prices decline for first time since 2017 according to Domain
Perth recorded the first stable quarter for rent prices in more than a year and the average weekly cost for the houses that remain stagnant at a record summit of $ 700 per week.
Meanwhile, unit prices have been decreased since 2017 – according to the rent report in September of Domain, decreased by 3.2 percent in the quarter.
Research and Economy According to Nicola Powell, it was a “extraordinary result for the state’s capital, because the gap rate remained only 0.5 percent – the same as a year ago. A healthy rental market records the space rates by 3 percent.
“It is still the market of a host and this is an unusual result, Pow said Powell, Powell said.
“What he tells me is that the budgets are extremely stretched throughout the perth and the affordable price ceiling is not only reached, but also to disintegrate.
“The tenants are crying saying, ‘There was enough’.”
Powell said that the rental price increase has exceeded the wage increase for several years and that it has grown to the market, that tenants shifted to more affordable suburbs, shared houses or returned home.
This decrease in demand, due to the 5 percent deposit plan of the federal government, this will increase the number of people separated from the rental market further.
“The impact of this plan will be a significant plan for a city like Perth, where people have previously been locked in the rental market,” Powell said.
