As we hit the midpoint of the year, it’s a good time to check in on what’s happening in the property market—and while there’s been a slight seasonal slowdown, the fundamentals remain unchanged. Post-election uncertainty has eased, global distractions like “Trumpmania” have quietened down, and locally, we’re back to business as usual.
The most pressing issue? Demand continues to outstrip supply. We simply don’t have enough properties available to meet the needs of buyers actively looking in the market. That’s not a short-term problem either—it’s something we’ll be navigating for quite some time.
One area seeing a notable uplift is the first-home buyer market, thanks to new government incentives introduced post-election. These incentives are especially significant for entry-level properties throughout the western suburbs—and we’re already seeing their impact.
Take our listing on Mount Street in Claremont as an example. It’s a three-bedroom townhouse priced in the low millions. Within just five days, it generated 46 enquiries and welcomed 18 groups through the home open. That level of activity highlights the strength of demand at that price point—and it's only likely to grow as we head into the second half of the year.
Turning to the rental market—no surprises here. Vacancy rates continue to hover around 1%, a figure we’ve been quoting for a while now. To put that in perspective, a balanced rental market typically sees vacancy rates between 3% and 4%, which allows for a healthy level of choice for tenants. We haven’t seen that kind of balance for at least four years.
With such limited supply, rentals remain in high demand—and that’s unlikely to shift any time soon.
As always, we’re keeping a close eye on the numbers and the sentiment on the ground. Whether you’re thinking about buying, selling or investing, staying informed is key—and we’re here to help.
Enjoy my June wrap up below . . .