As Sydney and Melbourne come off the boil more and more eyes are turning to Perth and also the WA South West regions according to RE/MAX WA Managing Director, Geoff Baldwin.
“In addition to significantly increased inquiry to our Investments Division from China and Malaysia in particular, we are also seeing local buyers recognising that value has returned to the market which is another sign that this spring will see Perth identified as one of Australia’s hottest opportunities.
“Numbers at home opens has increased markedly over the past few weeks and the number of people looking to upgrade their homes also shows that they are seeing value at the higher end of the market.
“With local property prices at a 3 year low first home buyers are beginning to realise that the repayments on the average mortgage now compare favourable to the amounts they are paying in rent and are actively looking at their options at the cheaper end of the market.
“Some pundits will argue that the downturn in the mining sector will keep the brakes on the Perth market however history has shown that our local economy is extremely resilient and that it recovers very quickly and all indications are that we are set for a healthy bounce as the warmer months approach”, Mr Baldwin said.
Media Contact – Geoff Baldwin