Q1 2024
Heading into 2024, WA continues to maintain its position as one of the most cost-effective regions in Australia with Perth attracting a lot of publicity from buyers from the East Coast and overseas. WA is in a strong position with the average family income aligning reasonably well with mortgage repayments, hovering around 35%. WA's population has seen a notable increase with the majority being international migrations.
As of January 7th, we have a very low 3,633 homes listed for sale and 1,826 rental properties available for lease. To put this into perspective, a balanced market typically features around 12,000 homes for sale and approximately 10,000 rental vacancies available for lease.
The message from the team here at Mint for those contemplating selling or leasing, is that the current conditions present fantastic opportunities to capitalise on your property asset. We have been busy with appraisals and we anticipate 2024 being another busy year here in the West.
Publish Date: 23/04/2024
The details noted above including any figures or statistics given are based on information provided by multiple sources including the Western Australian Land Information Authority, Corelogic, REIWA, domain.com.au and realestate.com.au. The statistics noted include results performed by multiple agents and agencies. Whilst all reasonable effort has been made to ensure the enclosed information is correct at the time of publication, Mint Real Estate does not warrant or guarantee the accuracy or completeness of the data.
