Like next-door neighbour South Australia, it’s been steady as she goes for real estate markets in Western Australia, according to Craig Abbott, General Manager WA, Raine & Horne.
“That said, there is a growing demand for properties priced between $800,000 and $1 million in suburbs such as Claremont,” says Craig. “The western suburbs of Perth also stand out hotspots in 2019.
“Anything above $800,000 offers good value in the western suburbs and most buyers are white collar workers.”
In more good news, there have been some rental increases for Perth landlords in 2018. Craig adds, “These increases may entice some Sydney and Melbourne investors seeking value and stronger investment yields.” Gross yields in Perth are 4.1% says CoreLogic compared to Sydney’s 3.3% and 3.4% in Melbourne.
Craig adds, “Similar to the eastern states, the tight lending regimes imposed by the banks aren’t helping investment markets in Perth.”