Western Australia The Central Cockburn area of Perth will see first home buyers represent the strongest growth, with the Middle Market properties generating the most activity before the end of the year. The number of people buying investment properties through their superannuation funds is expected to increase in the state according to 86 per cent of members – spread across the state. Foreign investors are also expected to increase their activity according to 43 per cent of members, due to the strength of Australia’s economy. Most activity from foreign investors is expected to continue to be in the prime Perth market. The best performing country suburbs for WA for the year ending April 2013 include: } Kambalda East, where houses showed growth of 24.11 per cent } South Hedland, where units showed growth of 20.1 per cent. Victoria Park and Bayswater are highlighted for their stand out growth prospects, making them two of the top hot spots for the state. First time property investors should be targeting northern coastal suburbs where new building land is scarce and homes are more than 25 years’ old, resulting in high levels of capital growth. Beldon, where the average median price of a home increased by 1.7 per cent a year over the past decade is a good example.
2013 Property Market Outlook Mid Year Update | First National Real Estate
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