Several recently released statistics are beginning to show that the Western’ Australia’s capital city Perth is fast becoming a hotspot for investors keen on parking their money in residential properties.
The is because Perth is moving through the bottom of its current residential property cycle, providing opportunities to investors who may want to capture the full benefits of the next upswing by investing in the next few months.
“Some positive signs in the market are contributing to an overall shift in sentiment amongst buyers, with many feeling optimistic about 2017,” said Momentum Wealth’s managing director Damian Collins.
“Smart investors know that now is a great time to buy in Perth, but as we’ve always said, selecting the right property type in the right area is also important, and at the moment there are some very attractive opportunities out there for savvy investors,” he said.
Collins added the buying strategy was just as important as timing for investors to maximise their benefits in case of an upswing.
Investors who examine potential demographic, social, infrastructure and planning changes will have the best chance in purchasing a property that will outperform the market.
Collins pointed out that with a stock of listings still comparatively high, interest rates at record lows and affordability amongst the best in the nation, the current Perth market represents some excellent buying conditions for investors throughout the year.
“Investors who can identify a good long-term growth property and negotiate a favourable deal should purchase now to realise significant price growth in the future,” Collins added.