WILLIAM
Associate
Key Takeaways –
In the dynamic world of property investment, Perth stands out as a city of opportunity.
With its globally recognised liveability, robust economic growth, and strategic government initiatives, Perth’s property market is a beacon for domestic and international investors.
The city’s property market is currently experiencing a significant upswing, driven by a combination of factors, including strong government support, a booming economy, and a growing population.
In this article, we will delve deeper into the reasons why Perth is a compelling destination for property investment, explore the different sectors of the Perth market, and provide insights into the support available for property investors.
Whether you’re a seasoned investor or just starting out, this guide will equip you with the knowledge to make informed decisions about Perth property investment.
Perth’s property market is a vibrant ecosystem that offers a wealth of opportunities for investors. From the ambitious Perth City Deal to the city’s effective management of the COVID-19 pandemic, various factors make Perth an ATTRACTIVE destination for property investment.
The Perth City Deal is a plan worth $1.5 billion announced by the Australian & Western Australian Governments and the City of Perth. It aims to transform the city’s landscape and reflects its vision for the future. [1].
The goal of the agreement is to enhance Perth’s CBD university campuses , create a thorough CBD Transport Plan, and launch a range of infrastructure projects that capitalize on Perth’s historical, natural, and cultural assets. [2].
Image: CBD Transport Plan
The COVID-19 pandemic has had a profound impact on global property markets. However, Perth’s strong CRISIS MANAGEMENT has resulted in some unique outcomes.
Perth’s effective handling of the COVID-19 pandemic has had a positive influence on the city’s property market. Due to effective management and increased migration, the residential vacancy rate has reached a historic low that has not been seen in 40 years.
Investors now have new opportunities to invest in property asset classes in Perth, making it a great time to consider investing.
Due to the pandemic, more people are considering a move to Perth, causing a surge in demand for residential properties. As a result, there is a historically low vacancy rate. This trend, of course, creates new opportunities for investors, particularly in the residential property sector.
Perth’s projected population growth is another key driver of property investment in the city.
Perth’s population is expected to hit a projected 3.5 million by 2050, making it Australia’s third-largest capital [3]. This significant growth is set to fuel investment in property by PUBLIC and PRIVATE investors, making it an exciting time to consider property investment in Perth.
The projected population growth in Perth is fuelling significant investment in property. As the city grows, so does the demand for residential and commercial properties. This INCREASED DEMAND presents a great opportunity for investors to capitalise on Perth’s growth trajectory.
Project 90K is a visionary initiative commissioned by the Property Council of Australia. The project aims to more than DOUBLE the residential population within the City of Perth boundary by 2050, bringing the total to 90,000 residents [4].
This ambitious plan is set to transform the city’s landscape, creating a vibrant, bustling metropolis that offers a high quality of life for its residents.
An increase of nearly 90,000 residents in the City of Perth will lead to higher demand for different facilities and services.
This includes the need for additional:
The growing population is expected to drive demand for commercial properties, making it a great opportunity for investors interested in this sector. This includes retail spaces and office buildings, among other property types.
Perth’s commercial property market is a DYNAMIC BLEND of traditional office spaces and innovative co-working solutions. Here are some compelling reasons to consider Perth for your next commercial property investment:
Perth’s Central Business District (CBD) is a bustling centre of commerce and industry. It’s not just the city’s heart but also a prime location for commercial property investment [5].
The traditional office space model is being challenged by the rise of co-working/serviced office space providers. These flexible workspaces are becoming increasingly popular, especially among startups and small businesses.
These factors, combined with Perth’s strong economy and high liveability, make it an attractive destination for commercial property investment.
Perth’s residential property market is a blend of affordability, high rental yields, and low vacancy rates. Here are some compelling reasons to consider Perth for your next residential property investment:
Perth’s residential property market offers a unique mix of affordability and strong demand, making it an attractive option for investors.
Perth’s residential property market offers attractive yields, outpacing other major Australian cities.
These factors, combined with Perth’s high liveability and strong population projected growth, make it an attractive destination for residential property investment.
Perth stands out as a compelling choice for property investment. Its property market, marked by affordability, low vacancy rates, and high rental yields, offers unique opportunities for residential and commercial investors.
The city’s high liveability and significant economic investment further enhance its appeal. Whether you’re an experienced investor or a beginner, Perth’s dynamic property market and robust economy make it an ideal location for your next investment.
‌‌Sources –
Associate
Associate Buyers Agent
Administration support
Buyers Agent | Sydney
Buyer’s Agent | QLD
Senior Property Manager/BDM
