What Investors Need To Know About The WA Property Market
Western Australia and Perth have caught the eye of Eastern States investors due to the value that our market offers. Our property prices are much more affordable than the east coast along with significant rental returns growth.
Here are a few helpful tips and advice for investing in residential property in WA:
- Search for suburbs that have hidden potential.
Look for suburbs that have yet to achieve their full potential. Identify areas that are likely to outperform in the long term. Look at demand and supply issues, infrastructure, amenities, community engagement and local development plans etc.
- Use a Buyers Agent.
If the purchasing process seems too daunting, you can always hire a Buyers Agent. They have years of experience in the real estate industry and not only do hours of research but help guide you along the way. They also manage the buying and negotiation on your behalf.
- Use a Local Property Manager
Engage a professional with local experience when it comes to managing your property. WA’s residential tenancy laws are different to the east coast, so be sure to hire the services of a qualified property manager who can handle the requirements of your rental property to ensure tenancy runs smoothly, especially when you’re not located in the same state. A good operator will also offer pre-purchase inspections.
With low rental vacancy rates and strong demand from tenants, WA needs more investors in our market.
Contact Amanda Leipold, our Business Development Manager, who currently manages properties for local, interstate and overseas owners. Some of our pre-purchase services managed by Amanda include:
- Introductory telephone consultations
- Desktop rental appraisals
- Pre-purchase / video walk throughs
- Recommendations – connecting you with tradespeople
- Pre-settlement inspections
- Onboarding new owner
- Onboarding new owner with tenancy
If you have been thinking of buying an investment property in WA, rising prices, attractive rents and healthy yields presenting excellent opportunities, now is a good time to act.
