Homepage Smartline newsroom

2017 Property Trends – What You Should Look Out For

Announcement posted by Smartline 23 Jan 2017

The last year was a challenging one for property prices in Western Australia. Demand was low and supply was steady, meaning we didn’t experience the same growth in price as other states.

However, with 2016 behind us, it’s time to re-examine the outlook of property for the 12 months that lie ahead. With changes to our economy and business confidence picking back up, it could be an exciting year ahead for property owners in WA.


Principal of Smartline Rockingham, Justin Smith, says that prices should now stop declining and start a positive trajectory as the economy starts to pick up again.


“We are looking at 2017 as a consolidating year. The last couple of years WA has seen house prices reduce but we now believe that prices have bottomed out.


If you look at the markets of Sydney, Melbourne and Brisbane, they have boomed and are now over priced. Historically when this happens, investors start to look at other markets to invest and WA is certainly poised for this.”


Smith also commented on the opportunities that lie ahead for the Western Australian economy, which is transitioning into a service and innovation-based hub.


“The WA economy is slowly transitioning from a mining economy back to it's more traditional base of construction and tourism.

This will help the local economy and create more jobs, which means more people will be looking for homes to buy. Tourism will also be helped in 2018 with the introduction of a direct flight from London to Perth by Qantas.


In 2017 we have the State Election and both sides of politics will promise a lot, which means some money could be pumped into the housing and construction sector,” Smith said.