While the effects of these changes were felt nationwide, Western Australia has started to glimpse a brighter future as we enter an essentially post-COVID-19 environment. So, what is happening in the Western Australian market right now? More specifically, is it time to invest in the residential property market?
John Percudani, Managing Director of Realmark, shared his thoughts and observations on Western Australia’s property market.
“Ultimately, there is a real renewed focus on residential property. So, the demand for rental properties and home ownership generally, has spiked dramatically. With very low interest rates, vacancy rates and rentals that are solid, but are being held artificially low at this point in time and are likely to increase in the new year,” said John.
“I would suggest to you that now is a very good time to be looking at the investment market in Western Australia. We believe that prices will generally increase in 2021 and beyond. Inevitably, the return on investment will be very powerful.
“When you consider that inflation will be low, interest rates will be historically low, yields are likely to rise, and the demand for residential property solid. Then this would be a very good venture for any investor looking to place their money in a secure and positive environment, John commented.
If you’re considering purchasing an investment property, our team are well-placed to provide advice around the smart opportunities in the market.
If you’re looking to acquire additional property at this time, Realmark encourages you to contact us on 08 9328 0999 for a discussion.
The above is general in nature and is not intended to be financial or investment advice, please seek advice specific to your circumstances.