Perth property to be pick of the bunch
- The Real Estate Institute of Australia predicts Perth to attract international and domestic property buyers.
- Australia’s booming property market is already sizzling for the second year in a row, earlier than historically the case.
- Domain has recorded a finalised combined clearance rate at last week’s auctions of 74.5%.
Perth has been picked to be the country’s jewel in the crown for property sales by the Real Estate Institute of Australia after the reopening of borders is expected to attract international and domestic buyers.
The predictions from real estate’s national peak body come as figures show that Australia’s booming property market has begun sizzling for the second year straight and much earlier than previously has been the case.
REIA forecasts that WA’s capital will be the pick of the bunch for buyers because of the state’s affordability compared to its east coast counterparts, and growing demand.
Another reason Perth is emerging as a highly attractive buying region is WA’s robust economy, which will be seen as a safe haven for property investors, in addition to new migrants being drawn by the state’s strong jobs offering.
According to Domain’s most recent fortnightly property report, Brisbane, Melbourne, Perth, and Sydney, have all listed more properties so far this year than at the same time a year ago.
Domain also recorded a finalised combined clearance rate at last week’s auctions of 74.5%.
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