Eastern States Property Bubble So What?
There’s general conjecture in the market place about if and when the eastern states (primarily Melbourne and Sydney) have topped out in the market and whether or not they are going to see a fall.
In WA (3000 odd km away) how does this conjecture affect us? It actually does, but in a subtle manner. In the market place right now we’re starting to see growth in investors from the eastern states who are considering buying in Western Australia.
Three times over the last 2 weeks I have had buyers from the eastern states looking to invest in WA. So it is counter-cyclical in terms of trends and the market cycle; when buyers in the eastern states are feeling like the market is topping out, they will start actively looking at WA as a hedge and a growth plan.
WA has not seen significant market growth for the last 9 years and the general consensus is – as with all cycles – that it must turn, and perhaps now is the time for the investors to enter the market. Foreign investors too are recognise that the heat on the eastern states means they are not going to get a bargain and perhaps they should be paying attention here. It’s time for us to consider the eastern states as a serious buyers’ opportunity and start to target market that area.
\ Abel Property, formerly Abel McGrath, is a bespoke real estate agency based in Leederville, Cottesloe and Subiaco, servicing the greater Perth metro area. A company full of heart, we give 100% to everything we do, and we strive to earn the privilege of our clients becoming our biggest fans. We love to inform and educate so if you’re interested in anything property related and looking for expert knowledge, please get in touch.