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Things are looking up… unless you’re looking for a rental property

The rental vacancy rate in Perth has dropped to 2.2 per cent signalling a shortage. Yet there have been small increases in house prices.

It was reported in The West Australian that 130 people registered to view one property in Ferndale.

Real Estate Institute of WA President Damian Collins told Oliver Peterson this figure was unusual but rent increases are on the way.

“We’ve had a decrease in stock.. and we are seeing rent rises.

Again I think it’s the fact that we’ve under built for so long, our population growth is slowly starting to get there and all that excess supply looks like it’s gone in the market.

So it looks like rent and housing prices will rise in 2020.”

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