WA recovering and now ‘investors’ best option’
One state’s property market is emerging from its lull and swiftly becoming the ‘shining light for property investors’, according to a prominent commentator.
Speaking about the Western Australian property market, RE/MAX WA’s managing director, Geoff Baldwin, said it now presented the best option for property investors nationally.
“Sydney prices are really getting to the point of ridiculous with massive price increases, and all indications are that market is peaking at a dangerous level,” Mr Baldwin said.
“Melbourne prices are already comparatively high compared to Perth and Brisbane is also experiencing a high level of activity that is pushing up prices.
“Meanwhile, the whole Western Australian market is slowly working its way out of a lull caused by the mining industry slowdown, with the result that value has returned along with comparatively high rents.”
Mr Baldwin said the combination of softening prices in the state and record low interest rates meant that for the first time in almost two decades, investors could easily find positively geared properties.
“Some of our regional centres, such as Bunbury are also offering a good selection of residential and commercial opportunities where the rent can cover all costs after tax.
“Historically, WA has followed NSW in the property cycle which is another positive indicator for prospective property investors who are looking to buy now.”
- <p>LOL!!<br>Well I am certainly amused by the difference of opinion between the Author and the first poster/blogger.<br>I personally would NEVER "invest" in a regional town, so for me, forget Bunbury...<br>History shows that the highest LONG TERM gains are always in the biggest Cities, so while Sydney and Melbourne are unquestionably HOT and some of the heat will inevitably come off, MOST of it will stay - and then they will take off again - probably more quickly that smaller cities and certainly more quickly than Regional towns.</p><p>Lastly, does anyone else think there may be a Conflict of Interest between Mr. Baldwin's job and his making this commentary?</p><p>Paul Garson,<br>Stonnington Conveyancing &<br>Melbourne Buyers Advocates.</p>0
- <p>Mr Baldwin, are you serious? We stripped apart the economy of WA and summarised in our report in February. The outlook for Perth's property market for the next couple of years is gloomy. In our report we forecast a DECLINE in value. Only a few months later we've already proven right. The slide is just beginning. The longterm fundamentals of Perth are solid however now is definitely NOT the time to be jumping in.<br>Simon Pressley, managing director Propertyology</p>0
