Boom! what goes down always comes back up
After years of plummeting house prices and high rental vacancy rates, it seems that the Western Australian property market is finally back on the rise!
An analysis done by the National Australia Bank suggests that we West Australians are about to start seeing a light at the end of a very long, dark tunnel. The analysis projects that over the next two years, the WA property market will improve in a way that is comparable to the rest over the country, with many suburbs already looking promising.
Recently, the chief economist of NAB, Alan Oster said
"In WA, where the local housing market has underperformed relative to the Eastern States after the mining investment slowdown, house prices are expected to rebound and grow 1.3 per cent."
It’s believed that the projected rise in the WA property market is linked to the uplift and increase in the jobs market - which for all you new home buyers is great news!
So where do the experts believe the most promising areas are? Well, they’re saying that Armadale, Bentley, central Perth and Scarborough are a good bet, but that doesn’t rule out newly- developed areas such as Aubin Grove and Aveley.
Local real estate agents have also noticed an increase in the interest of sought-after suburbs where prices have dropped in affluence areas such as Claremont, a sure sign that the market is shifting. This is because the drop in land prices has brought developers out of the shadows and back into the market.
We’re sure this is music to your ears, so if you’re looking to build your first home but not sure where to start (or need some advice) get in touch with us!
Posted by First Home Buyers Direct on 25 July 2017 | 0 comments
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