Perth Property Investment
The mining boom may be past its peak but that hasn't stopped the Perth property investment and housing market setting a new price record.
The Real Estate Institute of Western Australia says a boost of investment in property close to the city has raised the Perth median house price.
The property investment market in Perth and Western Australia generally has been booming with rents and housing prices rising significantly in the past year. While values have risen, there are still deals to be had in today’s environment.
The Perth property investment market is based on falling listings and a tightening rental market. Perth house land and unit property prices have stabilised. Apart from Darwin, which currently has a vacancy rate of 0.5 per cent, Perth has the tightest rental market in Australia.
This tightening vacancy rate resulted in median house rents increasing by $10 to $450 per week, according to the latest Real Estate Institute of Western Australia data.
Projections: 2014 and beyond
The Perth property investment market will be influenced by the fact that Western Australia is home to Australia's fastest growing population and now represents around 10 per cent of Australia's population.
The Perth property market in 2014 will continue to see a general trend of investors moving back into the investment market because of rising rental returns and low interest rates.
Contact us for more information on recommended suburbs and locations in the Perth property investment market.