PERTH REAL EOFY
Another EOFY End Of Financial Year
Perth property has hit an all time high with the averages of sales in the market recording increasing in values units/apartments by $100k + family homes up to $150k. This is extremely strong appreciation averages for WA. Similar to 2015 & 2006 decades apart repeating the 21 century cycle.
To say the least its been a big year in property ownership with challenges entering the market. Figures just released estimated around 100,000 migrating to WA which is huge. No wonder the rental market is stressing with lots of families doing it tough trying to find a roof over their head anywhere in the metro area. The shortage in supply of homes available is not meeting a growing demand which is Australia wide.
Perth finished the financial year with an average/medium price Now $700,000 heading towards $750k – $800k by end of 2025.
Rentals are rising further towards mid to high $600 week average.
Perth Real Winter Wind Up
NEW RESIDENTS
The federal government allowing migration number to significant increase of 300,000 per year for 24-25 with an estimated near half a million including students.
This seems to be too many for Australia to accommodate that number. It is great for the economy but maybe a more measured approach with state allocation in managed levels for controlled growth. Looking at the long term with each states capacity to supply housing in direct proportion to the demand. This then would set a level of preparation for new residents to have somewhere to live on arrival.
This next financial year is predicted to much of the same as 2024 so a Hot Property Market is set to continue.
Sunset Coast Life preferred property services provider & advisors.
Mitchell Residential : mres@iinet.net.au : 0413122633
