A New Wave Is Coming
It seems the world is finally starting to realise what we always knew … Perth is the best place in the world to live. A recent article in The West Australian is predicting an influx of expats and new migrants itching to get a slice of our lifestyle and prosperity. With the current rental crisis though, there is nowhere for them to live. That is why investors are starting to get back into the market.
As you well know, timing the property market makes a difference to your return on investment. But it’s always better to be too early to the party than too late! With the time it takes for subdivision works and approvals, plus build times, savvy investors starting the build process now know that their product will come onto the market mid 2022. Just when the government is predicting border restrictions will start to be relaxed.
In their race to get back to Australia, people are buying properties ‘sight unseen’. This is where newly built properties are going to have an edge over older, established homes that may have costly hidden faults. For you as the investor, a new property in your portfolio also comes with the added benefits of depreciation, capital growth and higher rental yields.
For many, their desire to live in Perth stems from it being “as safe as houses”!