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It looks like Domainfax has given up on Perth’s housing market and finally accepted that it is in the throngs of a prolonged bear market.
After Domainfax recently suggesting that the bottom is near (here and here), the REIWA released rental data this week, which showed that Perth rents have plummeted by $50 (houses) and $55 (units) since December 2013, with the rental vacancy rate also hitting an “historical high” 5.6% in the September quarter:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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