Why You Should Buy an Investment Property in Perth in 2023
    • 28 February 2023

    Why You Should Buy an Investment Property in Perth in 2023

    In our opinion, a Perth investment properties are one of the best buys for investors and owners in the country right now. Representing some of the lowest purchase prices and highest returns, we are seeing brand new units from as low as $355,000 and new house and land packages in new estates ranging from $400,000 to - $550,000. There are huge opportunities for investors to profit while the market is still hot - in fact, Property Club Founder and Director Kevin Young states that Perth is a “goldmine” for clever investors.

    Read on to learn why you should think about Perth for your next investment property.

    High Rental Yields and Low Vacancies

    The Perth rental market is experiencing the lowest rental vacancies in 40 years. We’re seeing extremely low vacancies (under 1%) in most Perth suburbs - a massive difference to the 3% average markets can usually expect.

    The high demand combined with low property prices is resulting in investors yielding high returns - with numbers only increasing as existing leases come to an end. Perth is still a rising market for both units and houses where many of the other states and regions have either reached their peak or are in decline. Perth has had some increase over the past year, and has had the lowest decline in median house price in recent months when compared to the other capital cities.

    Many Property Club members have bought property in WA during 2021-2022 and are now reaping the benefits of the rising market. We are happy to say that many of these properties were in the growth areas - especially Alkimos Eglinton, Northern Beach suburbs and Baldivis South of Perth. But don’t worry - there is still growth left in the market, making it the best buy right now to catch the growth that is still happening.

    Attractive Location for Families and Professionals

    While many may think of it as being vastly different from our East Coast cities, Perth and its surrounding regional cities Yanchep and Mandurah are very similar in layout to Brisbane (alongside the Sunshine Coast and the Gold Coast).

    I personally grew up in Perth Western Australia in City Beach - 8km from the City - and have watched the City grow to the north and south over my lifetime. Perth is a vibrant city and a very real opportunity for professionals and young families to build a fabulous lifestyle. The Mediterranean weather is a definite highlight and the lifestyle is both friendly and contemporary. In fact, I have spoken to many young families and young people who are checking out WA for the first time and absolutely love what it has to offer.

    Plus, with a predicted 3.5 million people by 2050 Perth is projected to become the third largest city in Australia after Sydney and Melbourne. Investing in this rapidly growing city now means when demand for housing continues to increase, you’ll already have established yourself a foothold.

    2023 Predicts Growth for Perth Properties

    Across the country, house prices have started to decline, however the Perth property market still remains strong and resilient. Getting in sooner rather than later may be the best approach with Perth investment properties, with The Real Estate Institute of Western Australia (REIWA) predicting house prices will rise between 2% and 5% through the next 12 months, carried by ongoing low supply and continuing high demand.

    Get Expert Advice on Perth Investment Property

    We have an amazing team of professionals in Western Australia who will assist you with your property research and journey. Our Perth Property Club experts keep their finger on the pulse of Perth’s property market. We have a strong understanding of what (and where) some of the best long-term investments can be found, with local knowledge and years of experience in the market.

    Plus, the Perth team have been holding regular educational workshops and team member meetups in Perth City. You can contact us for more information, or keep an eye out on our Eventbrite Page for the next event.

    Property Club have been successfully assisting everyday Aussies to invest in Property safely and responsibility for nearly 30 years. Get in touch to keep up to date on the latest property insights, get expert advice from our property experts, and find a property mentor to help you make informed investment decisions.

    To find out more about how we can help you invest in Perth and beyond, get in touch with us at enquiries@propertyclub.com.au.

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