Perth Property Insider Ep. 08: Perth Property Market Update: Outlook for 2021

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What can we expect for the Perth property market in 2021? 

The start of the year is a good time to take a look at what we can see ahead. Lots of things are coming up including policy changes in construction grants, the upcoming state election, the end of the moratorium to the Residential Tenancy Act and much more.

So join me as I give my outlook for the year ahead as we go over the sale market, rental market, what’s happening in the industry, and a look inside our own portfolio. On top of that, I’ll be sharing some actions which you should consider doing as well as my crystal ball for the future.

Don’t wait anymore and tune in to our first Perth property market update for this year!

Episode Highlights:

  1. Number of properties for sale hits an all time low [01:06]
  2. Week on week sales has risen [02:26]
  3. Strong growth being seen in median house prices [03:17]
  4. Average selling days are expected to decrease [07:38]
  5. Unprecedented times in the rental market [08:29]
    • We have only 11 properties for rent in our busiest time [08:43]
    • Our vacancy rate is tight at 0.15% [11:32]
    • Our average rent is at $357.50 [12:17]
  6. National Property Clock for Houses: Perth and South West WA still at start of recovery [13:44]
  7. National Property Clock for Units: Perth is in the declining side [15:12]
  8. Factors affecting the 2021 market outlook [15:36]
    • Changes in federal and state grants [15:44]
    • At least 3 years of low interest rates expected [18:19]
  9. Economic forecasts for Western Australia [18:56]
  10. Policy changes: The call for Stamp Duty reform and to address the rental storage [22:04]
  11. Residential Tenancy Act moratorium soon to end [27:05]
  12. Tips to survive and thrive: Upgrade your home & get an appraisal [27:48]
  13. My crystal ball for this year [29:46]

About Our Host:

Managing Director and Licensee at Investor’s Edge Real Estate for more than 12 years, Jarrad Mahon is a household name in the real estate industry. Having received 16 awards over the last six years, he is your go-to guy in property management and investment strategies. He has been featured in multiple media outlets and is continuing to make great strides in the world of real estate investing.

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