[Perth] "Average days on market until rented" Data

Discussion in 'Property Management' started by hematite, 28th Jan, 2018.

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  1. hematite

    hematite Well-Known Member

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    Im currently trying to rent my place out in Perth, and as you know, the market is slow.

    Are there any websites which can tell me the 'average days on market until rented' in my suburb?

    Realestate.com.au shows 'average days on market until sold' but nothing for rentals...
     
  2. thatbum

    thatbum Well-Known Member

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    I wouldn't use that data for anything except to compare against itself. Pretty useless as an actual marker for how long your specific rental should be on the market for.
     
  3. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Rpdata could probably create a report that you can work it out from based on rental listing date.
    From that you can probably surmise that the longer it's been on market that:
    a. possibly over priced
    b. poor location
    c. poor presentation
    d. crap PM who only does 10min long rental home opens during the day

    To decrease the amount of time your rental is vacant see if your PM will have an 5pm ++ rental home open so people who are employed can make it (!!), make sure it's clean + presentable, don't be the most expensive dwelling in the area unless it's really super unique
     
  4. Propertunity

    Propertunity Well-Known Member

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  5. Perthguy

    Perthguy Well-Known Member

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    It's interesting with rentals on the market. A couple of months ago I put on a fully renovated property. It didn't generate any serious interest. The real estate agent said it's not the price, it's not the price. However, we got s tenant within 4 days of dropping the price by $20 per week. I feel like it was the price.
     
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  6. Ross Forrester

    Ross Forrester Well-Known Member

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    Your left foot is in a bucket of ice. Your right foot is on a bed of hot coals.

    So on average your ok.

    If your house is not renting get grumpy and do something to fix it - price, presentation,pm or position.
     
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  7. hematite

    hematite Well-Known Member

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    Thanks all. The property has only been up for a week, so I am more curious to see how long similar properties are staying on the market for, and how I can track that to see how the rental market is changing within the suburb, and also what I should expect.

    It's not the most expensive place for it's property type in the suburb and its brand new & clean.
     
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  8. Perthguy

    Perthguy Well-Known Member

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    I track actual properties for rent in the area. The easiest way is to just run a search every Sunday and keep a list. Then next week see what is gone, what is new, what has changed price. I did this for one of my properties and found it quite interesting. It doesn't actually take too long to set up then not much time each week.
     
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  9. niknah

    niknah New Member

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    I've been told by a realestate agent that it's very quiet during xmas and in new years. It picks up in late Jan.
     
  10. aushelby

    aushelby Member

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    Warning (related party) - if you search your suburb on rent.com.au, you can see median rent (for the suburb v metro), its not live though (monthly) and does not include ToM (you can purchase a report for that :)

    FWIW - we have seen a slight improvement in ToM for Perth metro (after a flat year), no real improvement in rents but demand is picking up (12,808 WA properties for rent atm)

    cheers

    greg
     
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  11. hematite

    hematite Well-Known Member

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    Thanks all. Ill track manually.

    Another thing, should my agent be doing home opens only 'by apppointment'? Or just holding them even if no-one enquires?

    Niknah - Hard to tell. The agents in the area said that it's been a bit funny this Christmas (i.e. not like other ones). Hopefully it picks up.
     
    Perthguy likes this.

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