Page 7 - REIWA.com Market Update / June Quarter 2017

WA ECONOMIC OVERVIEWAVERAGE FULLTIME INCOMEMORTGAGE REPAYMENTSHOUSING FINANCE$1,328$1,879$340kSame time last year: $1,327 Unemployment Rate: 6% Source: ABS 6302, ABS 6202OUTLOOKEstimated New Owner-Occupier Mortgage RepaymentsSource: ABS 5609Average Owner-Occupier Loan Size at Finance Source: ABS 5609Sales transactions to remain atConsumer sentiment steadyDwelling commencements to slowPopulation trends steadyAccommodative interest rates environmentRental market to remain challengingHOW IS REIWA’S OUTLOOK TRACKING?• Populationgrowthisexpectedtoremainsteady,closeto1.0percentdrivenprimarilybynaturalincreases and supported by net overseas migration. It is currently at 0.7 per cent.• Theinterestrateenvironmentislikelytoremainaccommodativefortheforeseeablefuture.Theo cialcash rate remains at record lows.• Therentalmarketwillcontinuetobechallenginginlinewithslowingmigrationtrends.• Similarly,transactionalactivitywillremain atwithconsumersentimentsteadyinWA.• Dwellingcommencementsarealsoexpectedtoslow.Overall, the local property market is in line with expectations outlined in REIWA’s outlook above.REIWA.COMMARKETUPDATE | JuneQuarter2017 | 7