How the lack of rental stock is shaping the victoria park property market

In this episode

Despite the continuous rise in interest rates, there are more people looking for accommodation than there are available dwellings. This shortage has led to a sense of panic among buyers and tenants alike, resulting in multiple offers and prices going up.

In this episode, I spoke with Derek Baston who shared his insights and predicts that this trend will continue for the foreseeable future, as the supply of new apartments remains limited. As an expert in the field, Derek’s insights offer valuable perspective for property investors in Victoria Park, helping them navigate the unique challenges of the current market.

In this episode we discussed about:

• the current state of the market that highlights the scarcity of properties and the fear of missing out on opportunities. Despite rising interest rates, there is a high demand for accommodation in Western Australia, leading to a rising market and increasing property prices.
• the consistent drop in housing stock levels since December, creating a situation where there are more buyers than available properties.
• increase in demand for apartments.
• the differences in the apartment market.
• The pros and cons of No-Price marketing strategy
• Unethical practices by some agents who rely on market trends to determine house prices,

Follow us on Facebook and Instagram for more updates and information about the WA property market. Thank you for listening and we’ll see you next time.

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