Market Report: WA real estate update, December 2018

Like next-door neighbour South Australia, it’s been steady as she goes for real estate markets in Western Australia, according to Craig Abbott, General Manager WA, Raine & Horne.

“That said, there is a growing demand for properties priced between $800,000 and $1 million in suburbs such as Claremont,” says Craig. “The western suburbs of Perth also stand out hotspots in 2019.

“Anything above $800,000 offers good value in the western suburbs and most buyers are white collar workers.”

In more good news, there have been some rental increases for Perth landlords in 2018. Craig adds, “These increases may entice some Sydney and Melbourne investors seeking value and stronger investment yields.” Gross yields in Perth are 4.1% says CoreLogic compared to Sydney’s 3.3% and 3.4% in Melbourne.

Craig adds, “Similar to the eastern states, the tight lending regimes imposed by the banks aren’t helping investment markets in Perth.”

Why Raine & Horne Commercial?

Our full-service commercial real estate network can provide in-depth knowledge of local and regional property markets, with insight and understanding that comes from being a part of a long-established national and international property group. Committed to personalised service and achieving unsurpassed results, our clients continue to benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.

The Raine & Horne Commercial network is comprised of 100% owner-managed offices and includes numerous industry leaders and award winners. We employ agents who are empowered, encouraged to share and who maintain first rate communication to deliver the best possible outcome with every transaction. We pride ourselves on staying abreast of local and national trends and developments in the property industry, resulting in consistently cutting-edge services and holistic solutions for our clients.

Our industry experts embody and respect the family-oriented values synonymous with the Raine & Horne Commercial brand, allowing us to provide a complete range of professional services for all aspects of commercial, industrial, retail sales, leasing and specialist properties.