Land Sales Double as Perth Market Rockets

The busiest markets in Australia right now are the cities where Covid-19 is contained and life is unrestricted – apart from the border closures, of course.   The busiest markets also include those where first-home buyers are the most active cohort, boosted by high levels of government help and low levels of interest rates.   And the busiest markets also include those where vacancies are ultra low and there is upward pressure on rents. Because that usually translates into rising prices.   One city has all three of those trends highly prominent right now.   That city is Perth.   The Perth market has shown greater resistance to the pandemic impact than most Australian markets in terms of sales activity.   And its market is now pumping strongly, led by first-home buyers.   A standout feature of the Perth market is that many of the precincts with the best performance are at the affordable end of the market, reflecting the reality that first-home buyers are a major force in the market at present, more so than investors.   This trend has been enhanced recently by the Federal Government’s HomeBuilder grant, which has inspired people to buy residential land to build new homes.   The data shows major increases in Perth residential sales in July, for houses and especially for residential land.   Sales overall in Perth rose 68% in July, compared to April, while sales of residential land increased 121% - in other words, land sales more than doubled.   The Perth market is pumping strongly – and this makes the new release of our latest edition of the Top 5 Perth Hotspots report very timely.   The report highlights the best places to buy at a time when the Perth making is making its long-awaited comeback.   Perth has become the most affordable of the Australian capital cities – so it’s a great time to be buying there as an investor.   So get yourself a copy of the Top 5 Perth hotspots report and learn more about one of the nation’s hottest markets.