State of Markets – WA November 2012

By Staff Reporter

Essential information, plus expert insight on what is shaping the national property market...


WA’s first light rail announced
Western Australia’s first light rail network was launched recently, with almost $16 million committed to the project. The new network will see Mirrabooka connecting with PerthPerth, TAS Perth, WA’s CBD, QEII and Causeway via Alexander Drive and Fitzgerald Street.

The first stage is set to begin construction in 2016.

The new system, named Metro Area Express (MAX), was launched by transport minister Troy Buswell and premier Colin Barnett as the “centrepiece” of the state’s new public transport system.

“MAX will power Perth commuters into the future, helping to reduce congestion into the city from our inner north, and manage population growth as the city expands to as many as 2.7 million people by 2031,” Mr Barnett said.

The first phase is expected to be operational by 2018.

More dwellings coming to the Pilbara
Further residential development has been announced for Port Hedland, with hundreds of new home sites and multi-storey dwellings to be built.

Lands minister Brendon Grylls has indicated that as part of the state government’s ‘Pilbara Cities’ initiative, a range of lot sizes will be provided.

“Similar in size to the successful Pretty Pool … the land is part of the residential expansion area identified in the Pilbara Port City Growth Plan,” Mr Grylls said. “When fully developed, this estate could provide up to 300 residential home sites as well as several sites for the construction of multiple dwellings of up to three storeys.”

Director of buyer’s agency wHeregroup Todd Hunter said that investors shouldn’t, however, be too nervous about any land releases right away although they should keep a close eye on future developments.

“There’s definitely going to be a negative effect in terms of supply and the rents will lower, but demand there is absolutely astronomical so the effect will be minor,” Mr Hunter said.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
State of Markets – WA November 2012
SPI logo