September 12, 2019 by Rebecca Crommelin
This month on our blog, Phil Bertram, the owner of Candour Property Group, shares another great issue of Phil's Property Corner. Phil takes an in-depth look at the latest Perth property market and economy figures, as well as if we can expect more positive property signs this Spring.
Perth’s median price dropped to $486,000 in August, with sales activity remaining slow. Leasing activity also continued to slow, however the median rental price has remained at $350 per week. REIWA’s monthly market update can be found here.
Despite the subdued news over the winter months, Spring is finally here. It’s a time of the year where we can start to thaw out and historically it’s a time when people start to venture out of their homes more often and start exploring the houses available on the market.
There was quite an interesting article written a couple of weeks ago that gathered opinions from a few industry leaders. The question being asked is what it will take for the Perth market to start getting the positive bounce-back that other cities are experiencing from the recent law changes and rate cuts. You can read opinions from leaders in the Residential Real Estate, Building and Land sales industries. The common themes were pushing initiatives that will increase population growth, whilst continuing to improve the jobs within WA. Some of the ideas raised were quite interesting, you can find the article here.
Whilst the jury is out on what strategies the WA Government is exploring to attract people to live in WA, there is a steady stream of positive news on the jobs front. The WA Government has set a jobs growth target of 150,000 over the next five years and there are plenty of industries that these are likely to be generated from. A recently published Bankwest Curtin Economics Report has found that there are several rapidly developing sectors in WA, including defence, lithium, big data and tourism. It has forecast more than 163,000 jobs to be generated as these sectors expand. WAToday goes into more detail in this article.
If you’d like to discuss any of the above and how it applies to you then the next step is to chat with Phil Bertram. There is no obligation to proceed any further than you’re comfortable with and he doesn’t charge for his time. All strategies are implemented in tandem with your Mortgage Choice Mortgage Broker.
To arrange for him to call you please email him with your name and contact number on phil@candourproperty.com.au and he’ll be in touch.
