Property is always such an interesting topic and our Perth property market in 2021 is going to be even more interesting!
The Perth rental crisis for tenants, translates to a good time for homeowners and investors to lease their property.
The pressure is on the market for rentals that are $300 p.w. to $800 p.w as this is the budget of the majority. Nonetheless at Leasing Elite we also seek family homes over $1,000 p.w. for Australians returning home to work and live and for corporate clients who are continuing to move to WA for work commitments.
We have found that our fully furnished and equipped properties together with our unfurnished properties are in high demand. This is a victory for property owners who have suffered low rental rates and returns for numerous years when our economy declined.
After 28th March 2021 when the COVID emergency period expires, I believe we will see a lot of investors returning to the market to take advantage of interest rates and to purchase before prices increase significantly during the year. With low interest rates and higher rental rates continuing, this will result in better returns for investors.
As current properties become available to rent, we view the market conditions, and the rental rate is increased accordingly. It has been many years since we have been able to do this and we feel it is rewarding for homeowners and investors who have increased costs i.e. rates, insurance etc., and did not have the rental increases to meet these increased costs.
With so many WA residents returning permanently after making lifestyle and health decisions, we expect the trend to continue in the coming months.
So property owners please contact us today to discuss your options. We provide market information without any obligation from you. With over 35 years providing prestige residential accommodation to the corporate market, we take a very different approach to property – we tailor the management to your specific needs.