It is easy to forget that median house prices in Perth were neck-and-neck with Sydney and Melbourne during the mining boom around 2005-2007. Since that time, prices in Sydney and Melbourne have sky-rocketed with more than 100% in capital growth while Perth has remained quite stagnant.
While the mining and minerals boom was a key driver for growth in Perth in the past, a number of factors are pointing towards solid growth prospects for Perth in the future. These include very low vacancy rates, affordable real estate in comparison to East Coast cities, excellent yields, and a strong economy.
In addition, the fact that the COVID borders restrictions in Western Australia have remained tighter compared to other Australian states, means that when borders do open, there is likely to be a boost in people returning to the market to drive additional demand.
Read the following article for additional information - Perth Tipped To Be A Hotbed of Property Investor Activity in 2022 (realestate.com.au).
