January is always a slow business month as people drift back to work after the long school holiday period. So, as we enter February, a belated Happy New Year to everyone.
We would like to share with you some areas of interest for the property market this year.
The Perth CBD market is showing signs of continuing, but slow, recovery, with falling vacancy rates and positive demand. It is generally expected that incentives will start to fall but will remain higher than average while vacancy rates remain high which should have the effect of increasing effective rents.
Western Australia has faced particular challenges in the tourism and tourism accommodation sectors since the downturn in its economy in response to a softening in the resources sector. However, the latest data to be published by Tourism WA shows encouraging signs for the tourism sector, particularly in the domestic market.