11/10/2023
π‘ Investing in the West: Why WA is the New Frontier for Property Investment
East Coast property investors are flocking to Western Australia for a multitude of compelling reasons:
π 1. Affordable Median Prices: When compared to Sydney, Melbourne, and Brisbane, WA offers relatively affordable median property prices.
π 2. Rock-Solid Occupancy: With the country's lowest vacancy rate at just 0.3%, you're investing in a market where properties are in high demand.
πΉ 3. Capital Growth Champion: WA boasts the country's strongest capital growth over the last year, with an impressive 8.8% increase.
π 4. Rental Income Surge: The median rent prices in WA have experienced remarkable growth, offering excellent rental income potential.
ποΈ 5. Limited Supply: With new builds at only 15,000 dwellings per year (well below the 10-year rolling average of 22,000), the supply-demand balance is in favor of investors.
ποΈ 6. Low Inventory: Perth is experiencing its lowest number of properties on the market for sale, creating a seller's market.
π 7. Migration Boom: WA is seeing the largest migration numbers since the 1950s, contributing to increased housing demand.
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