<p><span style="font-weight: 400;"><span class='b-autolinkshadowbox'>Perth<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/tas/7300/perth>Perth, TAS</a> <a href=https://www.smartpropertyinvestment.com.au/data/wa/6000/perth>Perth, WA</a></span></span> held out against the widespread decline in property values across the country, with the West Australian capital delivering gains during the first month of winter.</span></p>
<p><span style="font-weight: 400;">The city’s steadfast performance halfway into 2022 defies the continuous downturn observed in other capital markets, with </span><a href="https://www.smartpropertyinvestment.com.au/research/23924-property-market-update-melbourne-june-2022" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;"><a href=https://www.smartpropertyinvestment.com.au/data/vic/3000/melbourne>Melbourne</a></span></a><span style="font-weight: 400;"> and </span><a href="https://www.smartpropertyinvestment.com.au/research/23908-property-market-update-sydney-june-2022" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;"><a href=https://www.smartpropertyinvestment.com.au/data/nsw/2000/sydney>Sydney</a></span></a><span style="font-weight: 400;"> particularly lurching lower as rising rates and increasing cost of living take a bite out of the two biggest cities’ property values.</span></p>
<p><span style="font-weight: 400;">Real Estate Institute of Western Australia (REIWA) president Damian Collins said the figures are a testament to the strong market conditions in Perth recorded “across all price points over the last 12 months”. </span></p>
<p><span style="font-weight: 400;"></span><span style="font-weight: 400;">He also highlighted that after experiencing solid price growth in the first six months of the year, Perth was well on its way to achieving the institute’s growth forecast of 10 per cent. </span></p><div class="dfp-ticker interscroller f" data-catid="85" data-pcount1="89">
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<p><span style="font-weight: 400;">He acknowledged that the traditional lull in the market during the winter months would likely cool the market, but not at a rate that will derail the city’s growth. </span></p>
<p><span style="font-weight: 400;">“As we move through the winter months, it is likely some heat will come out of the market, however, not enough to impact Perth’s overall growth trajectory,” Mr Collins said. </span></p>
<p><span style="font-weight: 400;">Despite the local expert’s positive outlook, CoreLogic’s head of research Tim Lawless claimed that “every capital city and broad rest of state region is now well past their peak rate of growth”, and Perth was no exception. </span></p>
<p><span style="font-weight: 400;">Mr Lawless noted that while the growth in Perth’s housing values temporarily got a second wind as </span><a href="https://www.smartpropertyinvestment.com.au/research/23731-property-market-update-perth-march-2022"><span style="font-weight: 400;">state borders reopened in March,</span></a><span style="font-weight: 400;"> the city is again losing steam month-on-month. </span></p>
<p><span style="font-weight: 400;">“Housing value growth has been easing since moving through a peak in March last year, when early drivers of the slowdown included rising fixed term mortgage rates, an expiry of fiscal support, a trend towards lower consumer sentiment, affordability challenges and tighter credit conditions,” he explained.</span></p>
<p><span style="font-weight: 400;">The expert highlighted that the downward trend seen across the country gained momentum after surging inflation triggered the Reserve Bank of Australia (RBA) to step in and kick off its monetary policy tightening. </span></p>
<p><span style="font-weight: 400;">“Since the initial cash rate hike on May 5, most housing markets around the country have seen a sharper reduction in the rate of growth,” Mr Lawless stated. </span></p>
<p><span style="font-weight: 400;">To keep inflation within its target band of 2 to 3 per cent, the central bank has raised the official cash rate from a record low of 0.1 per cent to 1.35 per cent in a series of rate hikes from </span><a href="https://www.smartpropertyinvestment.com.au/finance/23740-rba-hands-down-much-awaited-may-cash-rate" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;">May </span></a><span style="font-weight: 400;">to </span><a href="https://www.smartpropertyinvestment.com.au/finance/23893-rba-hands-down-first-fy23-cash-rate-decision" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;">July</span></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">“Considering inflation is likely to remain stubbornly high for some time, and interest rates are expected to rise substantially in response, it’s likely the rate of decline in housing values will continue to gather steam and become more widespread,” Mr Lawless stated. </span></p>
<p><span style="font-weight: 400;">Will Perth continue to deliver growth amid a rising rate environment? Or will it also succumb to the shift in the market and find itself in the red in the coming months?</span> </p>
<p><span style="font-weight: 400;">For now, let’s see how the West Australian capital performed in June 2022. </span></p>
<p><b>Property values </b></p>
<p><span style="font-weight: 400;">CoreLogic data showed that dwelling values rose 0.4 per cent in June, marking the sixth consecutive month the city saw property prices rise this year. </span></p>
<p><span style="font-weight: 400;">Despite delivering another month of gains, the figures indicate an easing from the 0.6 per cent increase recorded in May.</span></p>
<p><span style="font-weight: 400;">On a quarterly basis, property values in the city are up by 2.1 per cent — a slowdown from the 2.7 per cent rolling three-month period gain recorded in May. </span></p>
<p><span style="font-weight: 400;">Compared to June 2021, the average price of a property in Perth is now up 5.8 per cent, with the median dwelling value in the city now at an all-time high of $558,644. </span></p>
<p><span style="font-weight: 400;">Both the house and unit sectors grew over the month — albeit at a slower pace compared to the previous month. </span></p>
<p><span style="font-weight: 400;">Data showed median values for houses in Perth grew 0.4 per cent in May. The figures indicate a continuous deceleration from the 0.8 per cent increase seen in May and from the 1.2 per cent seen in April. </span></p>
<p><span style="font-weight: 400;"></span><span style="font-weight: 400;">This brought the sector’s annual growth to 6.2 per cent, with the average price of a house in Perth now at $585,114 — representing an increase of more than $2,500 month-on-month. </span></p>
<p><span style="font-weight: 400;">Meanwhile, the average price of a unit in the city rose by 0.2 per cent in June, cooling down from the 0.7 per cent growth seen in May. </span></p>
<p><span style="font-weight: 400;">On an annual basis, the median price of a unit in Perth is up 2.8 per cent, with the average price tag of an apartment in the West Australian capital at $412,149. This indicates a growth of almost $1,300 in the sector’s median price on a monthly basis.</span></p>
<p><span style="font-weight: 400;">Separate data from REIWA showed that the suburbs to record the biggest increase in median house sale price during the month are <a href=https://www.smartpropertyinvestment.com.au/data/wa/6027/edgewater>Edgewater</a> (up 3.3 per cent to $620,000), <span class='b-autolinkshadowbox'>Riverton<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/sa/5412/riverton>Riverton, SA</a> <a href=https://www.smartpropertyinvestment.com.au/data/wa/6148/riverton>Riverton, WA</a></span></span> (up 3.3 per cent to $736,500), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6076/kalamunda>Kalamunda</a> (up 2.8 per cent to $735,000), <span class='b-autolinkshadowbox'>Jindalee<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/wa/6036/jindalee>Jindalee, WA</a> <a href=https://www.smartpropertyinvestment.com.au/data/qld/4074/jindalee>Jindalee, QLD</a></span></span> (up 2.4 per cent to $640,000) and <a href=https://www.smartpropertyinvestment.com.au/data/wa/6025/padbury>Padbury</a> (up 2.3 per cent to $655,000).</span></p>
<p><span style="font-weight: 400;">Other suburbs with significant increases in the median house sale price were <a href=https://www.smartpropertyinvestment.com.au/data/wa/6038/alkimos>Alkimos</a>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6027/mullaloo>Mullaloo</a>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6112/seville-grove>Seville Grove</a>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6008/shenton-park>Shenton Park</a> and <a href=https://www.smartpropertyinvestment.com.au/data/wa/6211/dawesville>Dawesville</a>.</span></p>
<p><span style="font-weight: 400;">Weighing in on the monthly data, Mr Collins reiterated that Perth has “the most affordable median of any capital city in the country”. </span></p>
<p><span style="font-weight: 400;">“While increases to the cash rate will have some impact on affordability, West Australians are very well positioned to manage these costs,” he added. </span></p>
<p><span style="font-weight: 400;">If you’re looking to invest in the Perth property market, there are 10 suburbs you might want to take a look at first. Here are </span><a href="https://www.smartpropertyinvestment.com.au/research/23903-perth-s-10-best-performing-suburbs-for-fy22" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;">Perth’s 10 best-performing suburbs for FY22</span></a><span style="font-weight: 400;">. </span></p>
<p><b>Supply and demand</b></p>
<p><span style="font-weight: 400;">Perth’s residential property market went against its usual winter hibernation trend, as total listings in the city rose over the month. </span></p>
<p><span style="font-weight: 400;">Data from REIWA showed that there were 8,541 properties for sale in the city at the end of June, which is 2.6 per cent higher than in May.</span></p>
<p><span style="font-weight: 400;">However, Mr Collins noted that supply in the market continued to outpace demand. </span></p>
<p><span style="font-weight: 400;">“Listings for sale remain low. Until listing volumes reach that 12,000 - 13,000 balanced market figure, competition amongst buyers will be high — especially as the state’s population increases,” the local expert stated.</span></p>
<p><span style="font-weight: 400;">Data from CoreLogic showed that Perth’s advertised stock levels are 16.2 per cent lower compared to the same period last year by 16.2 per cent. </span></p>
<p><span style="font-weight: 400;">Separate data from SQM Research showed that total residential listings in Perth fell 2.1 per cent over the month from 21,809 in May to 21,341 in June. Over the year, listings are down by 0.9 per cent. </span></p>
<p><span style="font-weight: 400;">In terms of demand, REIWA data showed that the median time to sell a house was 16 days during June, which is two days slower than May and three days faster compared to June 2021. </span></p>
<p><span style="font-weight: 400;">Commenting on the figures, Mr Collins stated: “While the median selling time was a couple of days slower than May, the June figure is still much lower than the 30 to 40 days we would typically see in a balanced market.” </span></p>
<p><span style="font-weight: 400;">Data further showed that the fastest-selling suburbs in June were <a href=https://www.smartpropertyinvestment.com.au/data/wa/6167/orelia>Orelia</a> (three days), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6167/parmelia>Parmelia</a> (four days), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6210/meadow-springs>Meadow Springs</a> (six days), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6026/kingsley>Kingsley</a> (six days) and <a href=https://www.smartpropertyinvestment.com.au/data/wa/6167/medina>Medina</a> (six days).</span></p>
<p><span style="font-weight: 400;">Other suburbs to record fast median selling times were <span class='b-autolinkshadowbox'>Merriwa<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/wa/6030/merriwa>Merriwa, WA</a> <a href=https://www.smartpropertyinvestment.com.au/data/nsw/2329/merriwa>Merriwa, NSW</a></span></span>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6169/waikiki>Waikiki</a>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6065/wanneroo>Wanneroo</a>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6169/safety-bay>Safety Bay</a> and <a href=https://www.smartpropertyinvestment.com.au/data/wa/6028/kinross>Kinross</a>.</span></p>
<p><span style="font-weight: 400;">For more insight on the market supply levels across the country, read our recent article: </span><a href="https://www.smartpropertyinvestment.com.au/buying/23919-june-new-listing-activity-bucks-downward-trends" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;">June new listing activity bucks downward trends</span></a><span style="font-weight: 400;">. </span></p>
<p><b>Auction markets </b></p>
<p><span style="font-weight: 400;">Data from CoreLogic showed that over June, a total of 65 properties went under the hammer in Perth, with a final average clearance rate of 38.6 per cent. </span></p>
<p><span style="font-weight: 400;">Last month, the city recorded a 43 per cent clearance rate out of 70 auctions that occurred throughout May. </span></p>
<p><span style="font-weight: 400;">If you want to be in the loop about what’s happening across auction markets in the country, follow our weekly updates in our</span><a href="https://www.smartpropertyinvestment.com.au/news" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;"> News section</span></a><span style="font-weight: 400;">. </span></p>
<p><b>Vacancy rates </b></p>
<p><span style="font-weight: 400;">Perth’s rental squeeze did not abate in June, as Domain’s data showed the city’s vacancy rate remained at a record low of 0.6 per cent during the month. </span></p>
<p><span style="font-weight: 400;">Despite the drastically low number of available rental listings in the city, Domain noted that the rate has held steady for the last three months. </span></p>
<p><span style="font-weight: 400;">At the end of June, the number of vacant rental listings in Perth stood at 947, representing a steep 12.8 per cent drop from May and a further 32.2 per cent decline from June 2021. </span></p>
<p><span style="font-weight: 400;">The areas with the highest vacancy rates across Perth were <a href=https://www.smartpropertyinvestment.com.au/data/wa/6011/cottesloe>Cottesloe</a> – <span class='b-autolinkshadowbox'>Claremont<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/tas/7011/claremont>Claremont, TAS</a> <a href=https://www.smartpropertyinvestment.com.au/data/wa/6010/claremont>Claremont, WA</a></span></span> (1.6 per cent), Perth City (1 per cent), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6160/fremantle>Fremantle</a> (0.9 per cent), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6156/melville>Melville</a> (0.8 per cent), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6210/mandurah>Mandurah</a> (0.6 per cent). </span></p>
<p><span style="font-weight: 400;">Meanwhile, data showed that Kalamunda (0.2 per cent), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6110/gosnells>Gosnells</a> (0.2 per cent), <a href=https://www.smartpropertyinvestment.com.au/data/sa/5440/cockburn>Cockburn</a> (0.3 per cent), <span class='b-autolinkshadowbox'>Armadale<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/wa/6112/armadale>Armadale, WA</a> <a href=https://www.smartpropertyinvestment.com.au/data/vic/3143/armadale>Armadale, VIC</a></span></span> (0.3 per cent), and Kwinana (0.3 per cent) recorded the lowest vacancy rates in the city. </span></p>
<p><span style="font-weight: 400;">Figures from REIWA showed that there were </span><span style="font-weight: 400;">2,296 properties for rent in Perth at the end of June, which is 0.5 per cent compared to May and 17.5 per cent less than at the end of June 2021.</span></p>
<p><span style="font-weight: 400;">Data from the institute also revealed that it took a median of 16 days to lease a rental during June, which was the same as May and four days faster than June 2021.</span></p>
<p><span style="font-weight: 400;">The suburbs that recorded the fastest median leasing times were <a href=https://www.smartpropertyinvestment.com.au/data/wa/6035/yanchep>Yanchep</a> (eight days), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6164/atwell>Atwell</a> (nine days), <a href=https://www.smartpropertyinvestment.com.au/data/wa/6060/yokine>Yokine</a> (10 days), Perth (11 days) and <span class='b-autolinkshadowbox'>Queens Park<span class='b-autolinkshadowbox__links'><a href=https://www.smartpropertyinvestment.com.au/data/nsw/2022/queens-park>Queens Park, NSW</a> <a href=https://www.smartpropertyinvestment.com.au/data/wa/6107/queens-park>Queens Park, WA</a></span></span> (11 days).</span></p>
<p><span style="font-weight: 400;">Other suburbs to experience fast median leasing times were Alkimos, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6061/balga>Balga</a>, <a href=https://www.smartpropertyinvestment.com.au/data/wa/6023/duncraig>Duncraig</a>, Seville Grove and <a href=https://www.smartpropertyinvestment.com.au/data/wa/6065/tapping>Tapping</a>.</span></p>
<p><span style="font-weight: 400;">Mr Collins acknowledged that supply shortage continues to be Perth’s biggest challenge.</span></p>
<p><span style="font-weight: 400;">“The housing shortage is the biggest issue facing the WA rental market. Whilst we have one of the most affordable rental environments in the country, there simply is not enough available rentals to meet tenant demand,” he stated. </span></p>
<p><span style="font-weight: 400;">On this note, Mr Collins reiterated his</span><a href="https://www.smartpropertyinvestment.com.au/buying/23854-investors-wanted-12-perth-suburbs-in-dire-need-of-rental-supply" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;"> call for investors to look into Perth as their next place of investment</span></a><span style="font-weight: 400;">, adding that “it is imperative that no major changes are made to residential tenancy laws during the <em>Residential Tenancies Act</em> review which would discourage investors from buying properties in WA”.</span></p>
<p><span style="font-weight: 400;">To read more on the latest trends in the rental markets, check out our recent article: </span><a href="https://www.smartpropertyinvestment.com.au/research/23898-how-australia-s-rental-market-fared-at-end-fy22" target="_blank" rel="noopener noreferrer">How Australia’s rental market fared at end FY22.</a></p>
<p><b>Rental markets </b></p>
<p><span style="font-weight: 400;">Rents in Perth have increased by 2.6 per cent over the quarter to June and an impressive 6.7 per cent over the past 12 months, according to the </span><a href="https://www.smartpropertyinvestment.com.au/research/23898-how-australia-s-rental-market-fared-at-end-fy22" target="_blank" rel="noopener noreferrer"><span style="font-weight: 400;">latest report by CoreLogic.</span></a></p>
<p><span style="font-weight: 400;">This brought the average weekly rent for all dwellings in the city to stand at $515 at the end of the financial year. </span></p>
<p><span style="font-weight: 400;">Across all dwellings, gross rental yields in Perth stood at 4.38 at the end of June. </span></p>
<p><span style="font-weight: 400;">Compared to June 2021, house rents in the West Australian capital have risen by 6.9 per cent, while unit rents have increased by 5.5 per cent. This brought the average weekly house and unit rents in Perth to stand at $523 and $451, respectively. </span></p>
<p><span style="font-weight: 400;">CoreLogic noted that despite growing affordability concerns, rental demand is expected to remain high for some time yet, partly due to the low levels of investment in the medium and high-density sector seen between 2017 and 2021. </span></p>
<p><span style="font-weight: 400;">Meanwhile, separate data from REIWA showed that </span><span style="font-weight: 400;">Perth’s median rent price held at $470 per week during June.</span></p>
<p><span style="font-weight: 400;">“While the median rent price has risen over the last year, we are not seeing month-on-month unsustainable growth rates,” Mr Collins said.</span></p>
<p><b>Outlook for Perth’s market</b></p>
<p><span style="font-weight: 400;">While the recent rate hikes’ impact is now beginning to become more evident in bigger cities such as Melbourne and Sydney, the RBA’s monetary policy tightening is yet to have an effect on Perth, according to Mr Collins. </span></p>
<p><span style="font-weight: 400;">He explained that because the city grew at a more moderate pace compared to other cities during the boom, it still has “got a bit of growth to go”.</span></p>
<p><span style="font-weight: 400;">“We’ve certainly been probably the slowest growing major capital city in the last two years out of all of Sydney, Melbourne, Brisbane, Perth, <a href=https://www.smartpropertyinvestment.com.au/data/sa/5000/adelaide>Adelaide</a> and <a href=https://www.smartpropertyinvestment.com.au/data/tas/7000/hobart>Hobart</a>,” Mr Collins stated. </span></p>
<p><span style="font-weight: 400;">Additionally, he underlined that low unemployment, coupled with an uptick in population when borders reopened in March, helped in underpinning the city’s stable growth. </span></p>
<p><span style="font-weight: 400;">“Lots of migrants are starting to return into Western Australia and we’ve got quite a significant shortage of housing at the moment and rental vacancy rates are near 40-year lows,” he said.</span></p>
<p><span style="font-weight: 400;">For comparison, Mr Collins said the Sydney and Melbourne housing markets “went up too much, too quickly”, making them “too unaffordable” and more vulnerable to rate hikes. </span></p>
<p><span style="font-weight: 400;">“That has meant that with interest rate rises, those markets are very sensitive, because they’re carrying a lot of debt. That combination of those things has meant prices there have started to fall and I think those markets will be the most sensitive to interest rate rises over the next 12 months,” he said.</span></p>
<p><span style="font-weight: 400;">On that note, he posited: “The more affordable locations like Perth and Adelaide will be less sensitive to interest rate rises.”</span></p>
<p><span style="font-weight: 400;">Meanwhile, Mr Lawless said the market was in the “fairly early stages” of a decline, with the extent of falls depending partly on how rapidly the Reserve Bank lifts its interest rate to combat inflation.</span></p>
<p><span style="font-weight: 400;">“There’s still probably another potentially 12 months ahead of us in this downturn,” he said.</span></p>
<p><span style="font-weight: 400;">“Australia’s housing market outlook is becoming increasingly skewed to the downside, with the trajectory of housing values heavily dependent on the path interest rates take,” he added.</span></p>
<p><span style="font-weight: 400;">Some economists also updated forecasts after the RBA revised its inflation forecasts up from its estimate of 5.1 per cent in the March quarter to 7 per cent. </span></p>
<p><span style="font-weight: 400;">Generally, economists from the four biggest banks are singing the same gloomy tune, with most analysts forecasting property prices in the country will fall by between 15 and 20 per cent (depending on who you ask) over the 12 months.</span></p>
<p><span style="font-weight: 400;">But Mr Lawless explained that a fall as deep as 20 per cent would not be as detrimental to the housing market as most market analysts paint it to be. </span></p>
<p><span style="font-weight: 400;">He said that a 10 per cent decline in the market (a figure which is becoming more widely accepted across the various private sector forecasts) would take national housing values back to levels seen in July 2021.</span></p>
<p><span style="font-weight: 400;">Meanwhile, a 15 per cent decline would take the market back to April 2021 levels.</span></p>
<p><span style="font-weight: 400;">As for a scenario of a 20 per cent decline turning into reality, he highlighted that the national index would still be at January 2021 levels and only marginally above where home values were in late 2017, he explained. </span></p>
<p><span style="font-weight: 400;">Another factor that will keep the floor under the housing market is that many borrowers have buffers against rising mortgage interest rates, as they have been making repayments above required minimums.</span></p>
<p><span style="font-weight: 400;">“[This means] most households have a significant safety net if temporarily faced with a change in circumstances,” Mr Lawless stated. </span></p>
<p><i><span style="font-weight: 400;">For a deeper insight into the current state of the market, check out our recent podcasts: </span></i><a href="https://www.smartpropertyinvestment.com.au/advice/investor-stories/23906-tick-tock-what-s-the-time-on-the-property-clock" target="_blank" rel="noopener noreferrer"><i><span style="font-weight: 400;">Tick-tock, what’s the time on the property clock?</span></i></a><i><span style="font-weight: 400;"> and </span></i><a href="https://www.smartpropertyinvestment.com.au/advice/investor-stories/23833-the-rationale-behind-a-50-basis-point-rate-hike" target="_blank" rel="noopener noreferrer"><i><span style="font-weight: 400;">The rationale behind a 50-basis point rate hike</span></i></a><i><span style="font-weight: 400;">. </span></i></p>
<p><i><span style="font-weight: 400;">For more industry expert insights on the property market, check out our other amazing </span></i><a href="https://www.smartpropertyinvestment.com.au/podcasts"><i><span style="font-weight: 400;">podcast</span></i></a><i><span style="font-weight: 400;"> series. Also, make sure to check our </span></i><a href="https://www.smartpropertyinvestment.com.au/news" target="_blank" rel="noopener noreferrer"><i><span style="font-weight: 400;">News section</span></i></a><i><span style="font-weight: 400;"> for the latest property market reports, insights, news and useful tips and strategies for investors. </span></i></p><style>.b-glossaryTitle { padding: 0 0 5px 0;font: normal normal bold 16px/25px Poppins;letter-spacing: 0px;color: #000000;text-transform: uppercase;opacity: 1;text-align: left;border-bottom: 1px solid #d7d7d7;} .b-glossaryTerm { text-decoration: none !important;text-align: left;font: normal normal bold 16px/23px Poppins;letter-spacing: 0px;color: #EA5A1F !important;opacity: 1; }.b-glossaryDef {text-align: left;font: normal normal normal 16px/23px Questrial;letter-spacing: 0px;color: #000000;opacity: 1;}</style><div style="background-color:#FFFCFA;"><h2 class="b-glossaryTitle">RELATED TERMS</h2><div style="margin-bottom:5px;"><a class="b-glossaryTerm">Property</a><p class="b-glossaryDef">Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.</p></div></div><style>.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }</style>