The Directors Cut
As you will no doubt be aware, the Real Estate Market and the Building Industry in WA have both been on a downward trend for the past 3.5 years. The good news is that nothing stays the same forever and with the recent interest rate reductions from the RBA, the re-election of the Liberal Party and a relaxation of the requirements for lending by APRA, there has been a recent increase in activity in both Real Estate Sales and Building Approvals. This will no doubt have a flow on effect to the wider market in the coming year and should also help WA’s unemployment rate come down.
We are also seeing renewed interest from investors both locally and from the East Coast; who see WA as a bargain compared to their market and at the beginning of a new cycle. If you are thinking of building or purchasing I wouldn’t wait too long; as the indicators are all pointing to a different market in 12 months time. Remember, the bargain of a lifetime comes along once a week, you just need to be ready for it.