DEAD CAT BOUNCE ??
Is the Perth rental market in a Dead Cat Bounce? Share traders and brokers will often talk about a dead cat bounce where the market appears to drag along at the bottom of a cycle and suddenly start to move upwards – not far, before falling again to a low.
REIWA figures show the number of rental properties in Perth had increased to around 11,100 through 2016 and has dropped to around 10,700 in the last 3 weeks (A dead cat bounce??). The number of properties leased per week has been around 1150, dropping to 916 leased for week ending 27/9/16.
This compares to
8256 properties to lease 29/9/15
5716 properties to lease 1/10/14
3765 properties to lease 25/9/13
2219 properties to lease 1/10/12
Hopefully we are wrong but evidence on the ground from the number of viewings, applications received and interest indicates little real change over the last 3 months. REIWA statistics show properties leased per week has actually dropped in the last few weeks. We are seeing a lot of apartments coming onto the rental market with more expected in the next few years.
We are showing properties after hours, any time during the day and all day Saturday by a duty property manager.