WAToday
Property experts warn Western Australia is facing a problem that has been “years in the making” as strong population growth and ongoing building delays pushed Perth’s rental vacancy rate down to 0.7 per cent in September, a decline of 0.1 percentage points from August.
REIWA chief executive Cath Hart said data suggested the rate could drop even further as demand continued to exceed supply.
UDIA WA’s executive director of policy and strategy, Sarah Macaulay, welcomed the state government’s decision on Tuesday to allow buyers to claim a stamp duty reduction on apartments that were under construction.
“The evidence is clear, WA has the fastest growing population of any state, we have a record low rental vacancy rate and very little stock on the market,” she said.
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