The Australian housing market has performed surprisingly well over the past few years, in spite of a global pandemic. Compared to the astronomical growth in other states, the Perth market has underperformed, however, it is expected that Perth will follow suit now that the ‘hard border’ has been removed.
With the state reopened, what can we expect from the property market in 2022 and what should you be on the lookout for when getting started?
Things are looking bright for Australia’s fourth-largest city; the Perth market is one of the best-positioned markets nationally at the moment. Not only does WA boast the lowest unemployment rates, but they also have Australia’s lowest property prices and a very tight rental market – meaning not enough rental properties available for tenants. This makes it a great opportunity for savvy property investors. Now that Perth has re-opened to domestic and international travel, there is expected to be an influx of migration to the state with people drawn to its employment opportunities and affordable property market.
The laid-back coastal vibe of Perth, coupled with its stable position as one of the world’s most liveable cities, is a big motivator for people to relocate to this beautiful city. Because of this, affordability is likely to become an issue in the next decade.
All of these factors combined, makes Perth property investment an enticing option.
At Ironfish, we’re constantly researching the latest investment opportunities to provide our customers with the strategies they need to get a foot in the door and build a successful property investment portfolio. With Perth’s property market predicted to flourish in 2022 and many opportunities expected to arise, we’re looking in a few key areas:
- Location location location
A major infrastructure project taking place in Perth at the moment is the Metronet rail project. Many new stations are planned and will likely contribute to locations that are worth investing in.
- Quality lifestyle options
Cafes & restaurants, retail and schools are key and because of this, infill town housing opportunities are a good potential investment.
For those wanting to purchase and live in a home, boutique apartment blocks are on our radar.
As with all property investments, there are many factors to consider when looking at investing in the Perth housing market – the talented team at Ironfish are here to support you in all of your property goals in 2022.
Want to know more? Read our comprehensive analysis of the coming trends. Download our 2022 Guide to the Property Market.