Boom, what goes down always comes back up!
After years of decreasing house prices and high rental vacancy rates it seems that the WA 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 would improve in a way comparable to the rest over the country.
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 like Aubin Grove and Aveley.
Local WA real estate agents have also noticed an increase in the interest of sought-after suburbs where prices have dropped like Claremont which is a 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 and 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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