Perth’s housing shortage to get worse before it gets better: 2,335 houses on the market
WA’s housing shortage is expected to get worse before it gets better.
This morning in Perth there were 5,205 properties (including land) on the market, only 2,335 of those are houses.
Brendon Ptolomey, Managing Director of Herron Todd White, told Jamie Burnett on Weekends he’s amazed the number of listings isn’t a front page story everyday.
“When you think about the fact we’re now a city of two-million people and there’s only 2,335 houses on the market this morning for people to go and look at.” Mr Ptolomey says.
“That’s about one third of what an equilibrium market would be.”
Mr Ptolomey says the total number of listings for a normal functioning property market is about 13,000 or 14,000.
LISTEN to Brendon’s advice to buyers navigating this tough market.
Availability will continue to decline, with the number of sales being higher than the number of new listings.