PROPERTY GROWTH TIPPED FOR 2018

According to a recent report by the Property Council WA, the suburbs of Alkimos, Carramar, Clarkson, Yanchep, Duncraig , Heathridge, Joondalup , Ocean Reef, Kingsley, Sorrento, Carine and Innaloo all recorded growth in sales over the past few months.

Principal of Smartline Rockingham Mortgage Advisers, Justin Smith, is tipping 2018 as the year for a surge in the WA property market.

“We are expecting economic growth and business investment to pick up in the second half of 2017. The flow on effect into 2018 is very promising and we expect the strong results from Perth’s northern suburbs to spread down to the south including the Rockingham and Mandurah areas,” he said.

The WA Chamber of Commerce and Industry also had a positive outlook, predicting 3 percent growth in demand for housing in 2018-19.

Smith said: “We have been waiting 3 years for the indicators we are now seeing in the market. For those looking to invest at the bottom of the cycle, there is no better time than now.”

The Perth market presents a fantastic opportunity for those first home buyers put off by exorbitant prices in other capital cities like Melbourne and Sydney.

“We’re also looking for population growth to return,” Smith said.

“While we saw a lot of people move away from WA over the last 5 year, we could see that trend reverse as people look to come back and secure a job and place to live in a prime location along the coastal corridor, before prices go up again.”