Promising Perth

Tuesday, 1st Oct 2013

It’s a tale of two areas showing vastly different results compared to just a few years ago. On the one hand, Western Australia’s capital city of Perth seemed to struggle for so long, unable to come back from the highs of 2005 and 2006. On the other hand, mining towns including Port Hedland, Karratha & Newman outperformed the rest of the country, with investors ranking in well over $2000 per week in rent for some properties. Momentum Wealth managing director Damian Collins is already noticing the Perth market beginning to slow. We definitely have seen a slowdown on reduction in the number of buyers going through properties – there aren’t as many buyers as there were four months ago.