Just a little update on the areas which I follow on realestate.com.au
Once again, more properties on the market which are tenanted today. I have never seen this before,
Many R20-R40 zoned blocks with an older home on, even some corner blocks. These were normally very tightly held. Holding costs and the extreme costs of building new units, makes them a very risky investment now.
Result=less homes for tenants. I can assure you that investors are not buying these properties. Can tenants afford to buy? Perhaps a few. But as posted on here yesterday, atm it is far cheaper to rent than to buy. If all the other costs which are paid by the landlord are taken into a/c. Rates, water rates, insurance, repairs.
Perhaps some FHB can buy, but I think they should wait as I believe in Perth anyway, that prices will fall. Also rents will increase.
