WA HOT PROPERTY BOOM TO LAST YEARS

Experts are signalling WA property prices are tipped to continue rising for several years, with the sector sitting in the front seat of a one-in-15-year event.

REIWA president Damian Collin’s prediction was dependent on the resources sector upholding its strong position and a steady rollout of the coronavirus vaccine. Price rises that started recently were only just the beginning of several years of strong and sustained growth, was among Mr Collins predictions.

‘We will catch up the losses of the past five years and then some. How much extra is hard to say but we are looking at solid growth of 10 per cent-plus in the next couple of years.’ Said Mr Collins.

This is a brief summary of the article ‘Perth property boom: Real estate industry predicts 15-year high for rental prices across Perth’ by Kim MacDonald | The West Australian | 22^nd March 2021.