Property market update: Perth, June 2021
By Zarah Mae Torrazo
23 July 2021
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Perth’s property market boom almost grinds to a halt in June, as growth in dwelling values in the Western Australian capital lagged behind its capital city peers. But some experts are optimistic about the city’s outlook in the coming months.
Perth’s property market failed to defy the seasonal winter slowdown, as the rate of growth in property values in the city eased in June.
A few factors that help to explain the decline in growth rate are an easing in the sales-to-listings ratio and trends observed in housing credit.
Perth’s rental market surges, but experts wary of RTA review
By Fergus Halliday
21 July 2021
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1 minute read
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Ahead of an impending review of tenancy laws, Perth’s vacancy rate has recorded its highest monthly increase since April 2020.
With PerthPerth, TASPerth, WA’s vacancy rate and rental listings rising, the REIWA suggests that there is light at the end of the tunnel for property investors.
According to the REIWA, Perth’s vacancy rate rose 1.2 per cent in June 2021.
This figure represents the highest that the vacancy rate for the Western City capital has been since August 2020, and the biggest month-on-month growth since April 2020.
Construction is underway on the new Piara Waters Secondary School
Stage one includes an administration block, education support centre, library, hard courts and food and technology areas
The first stage is expected to cost $60 million and will cater for 750 students and 50 education support students
Works have begun on the highly anticipated new secondary school in Piara Waters that is set to welcome students for the start of the 2023 school year.
Stage one of the landmark Piara Waters Secondary School will be built at a cost of $60 million and will include an education support centre.
Construction also includes an administration block, student services centre, library, information resource centre and staff room, learning areas, food and technology areas, hard courts, an oval and car parking.
Tenants looking for rentals have lost thousands after responding to fake ads
Recent victims are mothers who are now homeless and out of pocket
People looking for rentals are urged to inspect the property before paying
Tenants who are desperate to secure a rental property in the current tight market are being targeted by scammers with many thousands of dollars being lost and Consumer Protection urging caution before handing over money.
So far this year 18 reports of rental scams have been received with five people losing a total of $7,200. In two recent cases:
A mother and her four children are now homeless after losing $3,600 ($2,000 bond and $1,600 rent) to a scammer who was advertising a Clarkson property on Facebook Marketplace. The mother never met the fake landlord and didn’t view the property inside, but did drive past the property. When she went to move in on the agreed date, the keys were not in the agreed spot and found the home was occupied by tenants who had an agre
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