Western Australia Properties in Midland are popular with renters as it has a high level of social infrastructure such as schools, shops and public transport. Yanchep has also been earmarked as an investor hot spot with planned large new land developments set to increase property values in the coming years. Other investor hot spots to watch include: Heathridge, Craigie, Padbury, Warwick, Scarborough, Victoria Park, Thornlie, South Perth and Northbridge.
Growth Investor activity is expected to increase by 57 per cent of Western Australian members as a result of improving rental yields and returns, while 29 per cent say they will stay the same. First home buyers are expected to represent the strongest growth sector in the state by 71 per cent of members, followed by investors (29 per cent). Improved affordability will continue to drive growth activity for the state, both for first home buyers who can now afford to enter the market, and for investors who seek to take advantage of the low property prices producing improved yields and better returns. Perth’s Ellenbrook and Wangara/Wanneroo regions and the Goldfields/Esperance and Midwest regions of the state will see first home buyers as the strongest growth sector, with the Entry Level market (properties valued at less than $350,000) being the most active. The Midland region of Perth will see investors as the strongest growth sector. They will be seeking to capitalise on the improved affordability of Middle Market properties, which are expected to generate the most activity in the coming six months.
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First National Real Estate | 2013 Property Market Outlook Mid Year Update