An article written by Shane Kempton from the Professionals Real Estate Group was saying that Perth will begin to experience a housing shortage over the next two years due to an under supply of new homes being built. (Let me tell you there is still a heap of homes that have already been built and are standing empty, you would have to replace the thousands of people that had to leave Perth to chase work elsewhere).
Yes, the mining sector is employing, yes Kwinana has recently chosen a site for a new lithium refinery that will create hundreds of new jobs in the area. Let me tell you there are plenty of homes available all around that area that will support those workers.
Rentals are still struggling a little as there is just so many apartments hitting the market, it is managing to keep the prices down somewhat. Yes, that will turn though we all know that.
I certainly do hope that Shane’s prediction becomes a reality and that Perth has all the homes for sale and rent snapped up by new people coming in for the jobs will make our job a lot easier.
50,000 new jobs were created in the state according to the ABS employment figures.
Prices are still at rock bottom but obviously that could change as the consumer sentiment rebounds during 2018 on the back of the improving economy.
I like to take each month as it comes but when the market is on the way up generally people are not fast enough to react to it so they will start paying more for the properties.
What I do know is RIGHT NOW is the best time to buy and you should be focusing on buying something now and get in before anything changes.