Investors embracing Perth’s potential growth

More than 60% of investors believe that Perth has the highest growth potential of any market in Australia over the next three years, according to a survey of 401 investors across Australia conducted by Momentum Wealth.

This survey is one of a number of recent surveys that shows a positive outlook for Perth’s property market.

The Australian Bureau of Statistics also recently reported a rise in housing financial commitments by Western Australians with a 4.5% increase in the number of commitments, a 3.8% rise in the value of those commitments and a 3.6% increase in the number of housing approvals for the quarter of December.

“Perth’s combination of affordability, improving rental conditions and positive economic indicators were driving factors behind the increased confidence”, said Emma Everett, Momentum Wealth buyer’s agency team leader.

Ms Everett also commented, “At the same time, longer-term indicators such as rising activity in the mining sector, increased infrastructure spending and early signs of accelerated population growth in Perth are providing healthy indicators for the markets future performance, with the latter in particular expected to drive higher levels of demand in the medium term.”

This is a summary of the article ‘Investors target Perth potential’ by Dan Wilkie | Published in Business News | February 17^th, 2020 | Page 40.

Business News subscribers click here to read the full article.