With the major eastern states markets either overheating or heading that way along with diminishing percentage returns, Western Australia is now a shining light for property investors and needs to be marketed as such according to RE/MAX WA Managing Director, Geoff Baldwin.
“Sydney prices are really getting to the point of ridiculous with massive price increases and all indications are that market is peaking at a dangerous level.
“Melbourne prices are already comparatively high compared to Perth and Brisbane is also experiencing a high level of activity which is pushing up prices.
“Meanwhile the whole WA market is slowly working its way out of a lull caused by the mining industry slowdown with the result that value has returned along with comparatively high rents.
“As a result of softening prices and record low interest rates, for the first time in almost two decades we are seeing a high number of local properties available that can be positively geared or certainly break even after tax dispensations.
“Some of our regional centres such as Bunbury are also offering a good selection of both residential and commercial opportunities where the rent can cover all costs after tax.
“Historically WA has followed NSW in the property cycle which is another positive indicator for prospective property investors who are looking to buy now.
“Western Australian agents and developers would do well to consider a concerted marketing campaign to promote our state and the value it currently offers”, Mr Baldwin said.
Media contact – Geoff Baldwin