The WA capital is attracting more interstate investors than usual, with assets under $500,000 reigning supreme.
Ray White Commercial (WA) director of sales and leasing Stephen Harrison said an increasing number of interstate buyers are looking to make their mark in , which is consequently helping drive recently leased investment sales as they look to capitalise on assets under the $500,000 mark.
Mr Harrison said that in the last few months, the Ray White team have managed six of these sales, with half the buyers hailing from outside of WA.
“Over the last few months, we’ve seen these six properties snapped up by investors, with a combined sale value of more than $2,500,000,” he explained.
“These assets had an average yield of 7.42 per cent and an average WALE of 4.25, and what made them so appealing was stable tenants, affordable prices, location and good yields.”
Mr Harrison said the type of interstate investors attracted to the Perth market are proving to be “quite aggressive” in their approach.
“Investors from interstate have been quite aggressive to secure investment properties in WA as half of the purchasers are not local,” he said.
“The general market for investment property seemed to soften in the tail end of 2018, and stayed the same until the second quarter, where we observed an increase in enquiry levels.
“These properties were sold in just the last four to five months only, seemingly in time with the results of elections, and the return of the appetite of banks to lend again.”