In Perth at least, vacany rates are down and the median rental price is up to $165 p/wk..
Maybe time for a rent increase for those long overdue..[thumbsupanim]..check rentals in your IP areas
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorQuote:Originally posted by redwing:In Perth at least, vacany rates are down and the median rental price is up to $165 p/wk..
Maybe time for a rent increase for those long overdue..[thumbsupanim]..check rentals in your IP areas
REDWING
Sounds good for Perth, but in Sydney (which leads the OZ market) the amount of for lease signs in some suburbs in amazing. Not hyping it but have never seen anything like this in the other cycles. Each cycle finished with for sale signs sitting unchanged for month after month, but never this number and never the “for lease “signs.
Not talking units or town houses but houses, lots of them in Glenhaven, Castle Hill, Baulkham Hills,
etc etc.Where will rents go now, when you have almost unlimited choice of accomadation.
First the for lease sign then the for sale.
Other interesting sign is the 3 houses in a row for sale in one block (he took two off after 2 weeks as he realised he was killing his own chances of sale ) and for lease in another. Sure sign these two “devilupahs” have given up on this cycle.
Glad to see Perth is still going strong.
I asked my property manager about rent increases in surburban bayside area of melbourne.
Not yet. still in favour of the renters. Like GMH I still see plenty of ‘For Lease’ signs. Never saw one about 4 yrs ago.
HI Redwing, Agree with you, have just put the rent up …. things are looking better..
GMH,
I agree. I used to live in Dural before moving into the CBD and I have a lot of friends out that way and every time I am out there I am amazed at the number of for lease signs. I thought the Castle Hill, Glenhaven, Cherrybrook area was the sort of place for ones PPOR but the number of for lease signs has me perplexed. Loved the area but it took too damn long to get to the Opera. Certainly haven’t regretted the change.
Lots of for rent signs about in brisvegas, i’ve questioned my realtor friends about this and there is a significant drive in this area to advertise not only the vacancy but the agency.
The smart money (so to speak) is saying the realtors are taking the opportunity to advertise a vacancy as well as put their name in you face…. makes sense.
Any advertisement is a good advertisement in that industry.
No doubt the incidence is much higher these days and is not confined to the past 3-4 months – any comments?
cheers
brahms
If you don’t ask, the answer is no!!
Aussiemike, Perth is really going strong, whenever I contact a real estate agent regarding an IP I may be interested in they spill the beans on all THOSE EASTERN STATE INVESTORS buying big (not less than 5 properties in one hit) on this particular day……
Marisa,
That to me would be a sign to stay cautious. The majority of NSW property investors (in fact I could probably make the same comment about property investors in general) are like lemmings. When one decides to jump over the cliff the rest follow. Sounds like the cliff has moved from the eastern seaboard to the western one.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
