Property investment in Australia is extremely popular. The decision to buy an investment property can be the gateway to financial freedom and flexibility when done correctly, as it is a safe asset with opportunity and potential for capital growth.
So where is a good location to invest?
McGowan Government reveals bold plan aiming to triple overseas workers in WA each year’ The West Australian
“With our economy the strongest in the country, and one of the strongest in the world, it’s a great time to be a Western Australian.” Mark McGowan Premier WA
‘The McGowan Government has made changes to its migration program to attract more skilled workers to WA and ensure WA is the State of choice for skilled workers migrating to Australia.’ 21 August 2022
Representing a valuable opportunity for property investors, Western Australia, and in particular Perth, currently offers remarkably affordable property value in Australia, and the opportunity for excellent capital growth in the short, medium and long term.
There’s a lot happening in WA
Perth City Deal
A $1.5 billion partnership between the Commonwealth Government, WA Government and the City of Perth creating 10,000 jobs.
Perth City Link
A series of projects to sink the northern rail line and create a 13.5-hectare site between the Perth Arena and Horseshoe Bridge.
Elizabeth Quay Upgrades
BHP, Rio Tinto and Fortescue Metals investing heavily in WA.
New Infrastructure
Nearly $200 billion has been injected into the economy by the Federal Government and is now ready to be spent.
With Singapore the new southern hemisphere economic hub, Perth property values will only increase due to its close proximity.
So Why Invest in WA
WA has an unrivalled strong economic position with a low unemployment rate, strong jobs growth and affordable property prices. There’s been positive interstate migration to WA, (30,000 already, with 45,000 anticipated), since the borders reopened post Covid, making WA a great place to invest.
- Average house prices in Perth make it one of the most affordable regions for investment
- Movement of people to WA will be roughly 20 times the rental properties available and rents continue to grow, due to strong tenant competition
- Perth offers the highest house rental yield at over 5% compared to Sydney 2.58% and Melbourne 2.85%, and nearly 6% for units. June 2022 Domain
- With median house prices increasing by over 13% in 2021, Perth was the highest performing capital city for house price growth as at September 2022. It’s important to note that Perth was previously Australia’s most expensive capital back in 2006/2007 Core Logic Australia’s HVI
- The iron ore, lithium and gas industries are booming in WA and there is opportunity for further growth through renewable energy
Exclusive Opportunities with Nicheliving
As WA’s largest in-fill medium density property developer, Nicheliving have an impeccable reputation for excellence and have been well researched via our WA agents and partners.
Nicheliving specialize in medium density developments in established, high value Perth locations. Highly desirable townhouses and villas, on their own separate blocks of land, close to the Perth CBD, offering the most potential for capital gain and yield and often sold out before sales brochures are completed.
Nicheliving Tapping recently won the award for WA’s Most Affordable Development at the Urban Development Institute of Australia (UDIAWA) Awards for Excellence.
A Fortescue Metals executive recently purchased a Nicheliving, off the plan, 3-storey townhouse in Cottesloe and Members of the Smile Elite Board, Management and Agents have purchased off the plan, high-end townhouses in WA from Nicheliving.
The Smile elite network of elite agents have first access to the best sites often selling before they hit the market. A rapidly rising market, will see a big cost advantage in buying off the plan in WA in the short and medium term.
For more information on securing an off the plan town house contact enquiries@ smileelite.com