How WA could release ‘pressure valve’ and instantly increase properties for rent by 50 per cent
Perth’s historic low of available rental properties could instantly increase by 53 per cent if investors bought and rented 1600 apartments for sale in some of the city’s most attractive suburbs.
That was the message at an industry event hosted by the Urban Development Institute of Australia WA on Wednesday.
Perth’s rental vacancy rate had further dropped from January’s 0.8 per cent to 0.7 per cent, undercut nationally only by Adelaide’s 0.6 per cent, speakers told the crowd.
Stock had stayed below 3000 properties for five consecutive months and without intervention the crisis could last 18 months to several years.
To read the article in full, including comments from UDIA WA CEO Tanya Steinbeck and details of our short sharp incentive scheme to fix the rental crisis, click here.