Dave Wilson of Norup Wilson recently attended a breakfast with guest speaker and property commentator Nerida Conisbee of realestate.com.
Nerida opened the presentation with the announcement that Perth is back in the game citing 15% price growth in key suburbs including Fremantle, Dalkeith and Nedlands over the past 12 months.
Furthermore, buyer activity has increased by 6.4% in WA over the last 12 months in stark contrast to NSW which experienced a buyer decline of 22.5%.
In addition, Nerida reported that rental demand is over 20% which is the best market in 12 months.
To further reinforce her point, Nerida cited the case of Hobart, where rental demand also picked up and then buyer demand followed, creating price growth. While she was cautious to have called the Hobart property boom, Nerida was not so reserved when spruiking WA.
And the cause for this property hype? Over the past two years WA created 24,000 jobs and it was recently reported in WA Business News that there is $140 billion in mining projects already in the pipeline or committed and all this spells positive signs for Perth’s economic recovery.
And while the residential market is showing signs of recovery, on the commercial front the premium office market is also sub 5% vacant.
At Norup + Wilson we have also witnessed a positive response to our projects, with The Beach Shack one of the fastest selling developments in WA in 2018.
There is no doubt that premium suburbs have been recovering since 2016 and Norup + Wilson is delighted that its three projects The Crest, The Beach Shack and The Precinct all occupy prime locations in cosmopolitan suburbs.
If you realise that now is the time to buy (like Nerida) then contact our office on 9315 1513. We are happy to show you why, at Norup + Wilson, anything is possible!