House prices flat – rents up; REIWA releases data for the Dec quarter of 2007

Preliminary data by the Real Estate Institute of WA suggests Perth’s housing market was flat-lining in the December Quarter of 2007, with no movement either up or down for the last three months of last year.

However, REIWA President Rob Druitt said he expected the data to show a small overall increase once final settlements are processed.

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Agents call for patience as rental crush resurfaces

Real estate agents and property mangers are urging prospective tenants to be patient as the annual rental crush resurfaces in Perth.

President of the Real Estate Institute of Western Australia, Rob Druitt, said seasonal factors and the low vacancy rate for accommodation was causing stress with many over worked agencies struggling to keep up with enquiries.

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Interest rate rise unwelcome in WA

The Real Estate Institute of Western Australia said today’s lift in the official cash rate by the Reserve Bank was not surprising but was disappointing.

REIWA President Rob Druitt said the WA property market was ‘cool and stabilising’ after the boom and did not require any further brakes applied to it.

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Ray White Invest & Blair Group Buy Currambine Marketplace, Perth, For More Than $50 Million

Specialist direct property funds management group Ray White Invest and private retail developer Blair Group today announced the joint acquisition of the Currambine Marketplace in Perth from Woolworths Ltd for in excess of $50m with proposed expansion plans to significantly increase the value of the property.

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No room at the inn: rental vacancy rates slump around Christmas

Residential rental vacancy rates have averaged an all-time low of 1.9 per cent across Australia for the past two and a half years, according to data published today in the Mortgage Choice/Real Estate Institute of Australia (Canberra), Market Facts report, September quarter edition.

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