Australia’s West Coast in property boom

17 December 2006

The city of Perth on Australia’s west coast is showing a massive price boom on real estate and is fast becoming the countries most successful all round city ahead of Sydney. Research showed a staggering 46% rise in property prices up to September making this a prime investment for the opportunistic overseas investor.

This surge in activity has been put down to a worldwide commodity boom, with Perth becoming the leading supplier of natural resources such as liquid gas and iron ore to China. This together with the housing shortage generally, mainly due to planning consent delays,a shortage of labour and construction delays, has meant that the housing market in Perth has risen substantially this year. Investors should not delay and seize the opportunity to cash in on this rising market .

The recent expansion of the city has meant that its fabulous coastline now stretches a total of 110Kilometers along side the business district as a result of which the number of residents is expected to increase by 25% in the next decade, generating an exciting opportunity for the keen investor. In fact as demand is outstretching supply, the shortage of labour is creating further opportunity for UK residents to up sticks and cash in while the going’s good.

Perth continues to draw back the investor due to it’s cosmopolitan reputation as one of the leading cities in Australia that has so much to offer.