Perth Property Investment

Residential property values have risen in every mainland capital except Perth according to figures released by RP Data and Rismark International. However, the Perth residential property market is slowly showing signs of recovery.

There is reported to be some increase in activity in the residential property market in Perth with housing sales increasing significantly due to the resources sector picking up in the west.

It is expected that Perth will not see much in the way of growth in the 12 months ahead. Consequently, property investors are more and more seeking opportunities on the other side of the country, especially Brisbane and Melbourne property.

Projections: 2010 and beyond

Baby boomers are driving property sales in lower price properties as much as first home buyers. Figures show that baby boomers will play a key role in the WA real estate market in the years ahead. Figures from the Australian Bureau of Statistics show that almost a quarter (23 percent) of Western Australians will be aged 60 years and over by the year 2021, compared with 15 percent in 2001.

2010 will start to see a general trend of investors moving back into the property market because of rising rental returns and the view that lower priced homes have reached the bottom of the market. In addition, many investors are reluctant to invest in the stock market because of the international financial situation. Whilst rental yields have improved in some areas of Perth, investors are showing increasing interest in the Brisbane property market due to growth potential. According to figures recently released by the Australian Bureau of Statistics, Australia's population has grown to 21,542,000 an increase of 389,000 people over the previous year. Queensland received by far the most people from net interstate migration gaining 22,700 people from the other states and territories.

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