Latest Property Market Update
Rental Market Update
According to REIWA this week, “Perth Metropolitan rental vacancy rate is currently sitting at staggering figure of 6.7% in July. There are a total of 11,027 properties listed for rent in Perth Metropolitan area, an increase of 32.7% more properties since 12 months ago..”
The good news for all our owners that have chosen Corporate City to manage their properties as we currently only have 4 vacant properties ready for tenants to move in now and we need more apartments.
Corporate City will continue to provide outstanding services to both our owners and tenants and ensuring minimise the loss of rent for our owners in this property market condition.
Sales Market Update
According to REIWA Statistics, 45% of seller are discounting the sale price of their property in order to sell.
Many property owners that are selling or considering of selling need to acclimate to the current market condition. You may risk discounting on the property sale price to get a sale if you price it wrong initially.
The current average days to sell a property is 72 days in WA, and the first 30 days is the most crucial period to sell a property. Hence, pricing your property right from the start of the marketing campaign is the key to a successful sale. A property that is priced right will attract buyers and eventually create competition and result in getting good offers for your property.
Corporate City tailors our marketing campaign to the seller’s need and circumstances. Contact Luke today if you would like a Free appraisal.