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Interstate investors ‘aggressive’ in Perth

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1 minute read

Interstate investors ‘aggressive’ in Perth

by Emma Ryan 27 November 2019 1 minute read

The WA capital is attracting more interstate investors than usual, with assets under $500,000 reigning supreme.

Perth
November 27, 2019

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 PerthPerth, TAS Perth, WA, 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.”

Interstate investors ‘aggressive’ in Perth
Perth
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About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]Read more

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