Perth’s retail property market under pressure
Wednesday, June 1st, 2011Anxiety over potential interest rate rises, higher utility costs and an increase in on-line shopping have caused softening retail spending. Two House Kitchenware stores in the Perth metropolitan area have been forced to close this week which follows that of large retailers Colorado Group, Ed Harry and Angus & Robinson earlier this year. Consumers appear to becoming smarter with their spending habits by shopping on line for products from cheaper overseas retailers or have tightened their budgets and spending habits after the GFC. However, like retailers, landlords have been subject to rising costs and are wanting rent increases. Garmony Property Consultants, licensed ...
Read morePerth property the worst performer nationally as housing approvals drop
Wednesday, June 1st, 2011It is reported the opposition government is blaming the Gillard government’s uncertainty surrounding the planned carbon tax and rising interest rates for the housing affordability crisis as Australian Bureau of Statistics (ABS) reveals new home approvals have fallen 11.5% since April 2010 nationally and 9.6% in Western Australia. Opposition spokesman Joe Hockey told WA Business News the economic uncertainty “is affecting confidence of the industry and potential buyers”. “This lack of confidence is shown clearly in the slowest growth in housing finance in a generation.” On a local front, RP data’s monthly housing market report has shown Perth is now the nations ...
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