Western Australia 86% of Western Australia members expect apartment/strata property prices to remain at current levels, due mainly to a steady ongoing supply. Any increases will be as a result in the main, of strong demand. 71% of Western Australia members expect land prices to remain at current levels, with the remainder expecting them to head upwards.
Increase Decrease Flat
House Prices
Apartment/Strata
Land
71%
14%
29%
–
–
–
29%
86%
71%
Rental The rental market in Western Australia is expected to perform strongly in the first half of 2013, with vacancy rates holding or easing and trending downwards as a result of high demand and low supplies. This will drive weekly rent prices upwards, with 86% of Western Australia members expecting this trend to occur. Vacancy Rates
Weekly Rentals
–
86%
Decrease
43%
–
Flat
57%
14%
Increase
The rental market is holding steady in both Port Hedland and Newman and will do so for the foreseeable future as demand continues to outstrip supply and critical infrastructure investment is required to facilitate any significant increase in housing.
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First National Real Estate 2013 Property Market Outlook