The Perth market has continued to grow over the 2022/2023 financial year and we are all looking forward to the next 12 months. Personally, I cannot see it stopping even if we do get another interest rate increase. (Will start to come down again next year - but in the meantime the banks will grab what they can)
The population growth I believe is what is driving the demand and there are simply just not enough homes to meet the current demand. The construction industry is still working through the legacy issues from COVID, which is limiting the future supply of new homes to our market. Add this to the strength of our economy driven by the resources sector and it feels like this will be going on for some time yet.
The Western Suburbs has especially had the lack of supply of homes which has created it's own little bubble and the buyer demand just keeps growing.
Apartments however are not enjoying the same type of growth, they are still extremely good buying, and the first home buyers should be seriously looking at purchasing their first investment if they are not going to live in it.
Looking forward to another fantastic year and Perth still keeps growing. Makes a change for us actually as Sydney and Melbourne are usually the ones.
MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!
SELLING MOSMAN PARK & THE WESTERN SUBURBS!!
KEEPING IT REAL IS OUR MOTTO!!
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