Perth Properties In High Demand
The Perth housing market continues to stand out, with a substantially higher rate of monthly growth compared to any other region, according to a recent CoreLogic report. Housing values rose 1.8% in February, equalling the high recorded in October last year.
Housing values across the nation saw increases in February, with the exception of Hobart. CoreLogic’s research director, Tim Lawless attributes the ongoing rise to a persistent imbalance between supply and demand and the consistently high rates to a combination of comparatively lower housing prices and positive demographic factors that continue to support housing demand.
This is good news for the Perth property market and it’s continuing growth. Not only is Perth one of the most affordable capital cities, it is also experiencing strong population growth.
Perth is one of only two capital cities that had an inflow of people moving in from other capital cities in 2023. According to the Regional Movers Index from Commonwealth Bank, along with Brisbane, Perth bucked the trend that saw all other capital cities losing residents to the regions. Perth’s net inflow from other capital cities and regions was equivalent to 9% of all net inflows.
By comparison, movement for the country’s other capital cities was largely outwards. Sydney and Melbourne both saw high net outflows to the regions of 65% and 35% respectively.
Source: CoreLogic
Perth Suburbs Moving UpPerth enjoyed a 1.8% increase in housing values over February, however many suburbs saw growth far exceeding that amount. Como was the clear winner for February, house sale prices there grew an impressive 4.1% to $1.15 million Two Rocks took out second place, with prices growing 2.9% to $515,000. Third place was all tied up at 2.6% growth. Southern River increased to $736,000 and Armadale to $400,000. Greenfields rounded out the top five performers. House sale prices jumped 2.3% over the month to $452,000. |
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Property Spotlight Despite the consistently low levels of stock available, the team at Resolve Property Solutions worked hard and purchased 18 properties in February, with an impressive 55% of these being secured either pre or off market. Here’s a small sample of the properties purchased during the month: |
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What’s Happening In The Perth Property Market?
| In the past twelve months alone, we’ve helped over 160 clients close deals in high growth, high cashflow locations, while taking care of all the paperwork and dealing with the agents so you don’t have to.
What’s more, we’ve saved them thousands through our intimate market knowledge, vast off market referrer network, decades of experience in development, planning, investing and our ‘in the trenches’ up to the minute live pricing models. You may feel you’re already a good researcher, negotiator and deal finder and you probably are – for your level of experience. However the reality is – we’ve closed over 160 deals in the past year, developed a vast network of referrers over the past two decades, and built a team of full time researchers, deal finders and relationship builders to ensure that if anything happens in the Perth property market – we know about it….first! Maximise your options by accessing off market deals, giving you more properties to choose from, save time and avoid all the hassle, as we take care of all of the inspections, research and negotiations for you. If you’re ready to enjoy the same success as our clients, please book your complimentary vision analysis session today! |
