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Loosening the Perth strings

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| 28 Jun 2012, 02:46 AM Agree 0
Hi all,

We have recently been asking some of our property investment experts where they believe to be the best places to invest in Australia over the coming year.
Many have nominated a number of suburbs in Perth, due to varying reasons. Firstly, affordability: You can get pretty close to the CBD for quite cheap prices.
Second: Rental yields. The fact that a lot of the companies involved in the resources boom in WA base their offices in Perth, means that executives and professionals are temporarily coming to work in the area, and are therefore renting. They are willing to pay healthy rents so that they are close to work and don't necessarily need to own a car while in WA. Finally, WA is doing so well that many anticipate a trickle down effect, especially across the different city suburbs.

Has anyone invested in Perth suburbs recently? How are you finding yields, tenant demand and so on?

Tim McIntyre
  • myasia | 02 Jul 2012, 01:40 AM Agree 0
    Thanks for this, Tim... What are the hot suburbs that your sources are pointing to in WA, and especially in the Perth region? I have been keeping my eye on the area for a while and would love to hear your thoughts.
  • Kris | 04 Jul 2012, 05:56 AM Agree 0
    Hi Tim

    I've also been getting the feeling that the Perth market is turning a corner. May and June property data shows that rental vacancy rates are falling. Anecdotally, there are stories of queues at rental property inspection days and prospective tenants offering more than the asking rent. In my opinion, this is indicative of the beginnings of a supply and demand imbalance, and I think we will see property prices follow rental yields upwards in the coming year.

  • Tim McIntyre | 12 Jul 2012, 06:56 AM Agree 0
    Thanks Kris,
    I think you might be onto something.

    Myasia, at this stage I can't reveal the suburbs as they have not yet been printed. They will be released in the YIP Top 100 annual issue, which will be on shelves any day now. There are plenty of WA specials involved, as well as some surprise entries from other states.

    Cheers, Tim
  • Eos Property | 28 Jul 2012, 01:06 PM Agree 0
    REIWA reporting an increase in Perth median prices. Article from today's paper FWIW.

    Some infrastructure work being done in some of the inner city (inside 15kms) areas.
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