Perth Property Market Update (FY 2020 - 2021)
WHATF?!?! is happening with the Perth Property Market in FY2020-2021. This is exactly what I'll answer in this detailed deep dive into West Australia's (and more specifically) Perth's property market! 🔔 SUBSCRIBE: https://bit.ly/2ABxWz1
📞 CONTACT: https://kentcliffe.com.au
This is not any thin marketing fluff where I rattle off some REIWA or CoreLogic Market Update in 2020 or 2021 and then tell you it is time to Buy, BUY, BUYY!!! ... Did I mention "BUY an investment property in Perth?"
I am digging deeper into an economic model and then going through the house price data as well as macroeconomic information about the Perth property market in FY 2020 - 2021. This will give property investors a clear and informed understanding as to HOW and where I see the Perth property market headed. Then I'll consider the impact of COVID on the Perth property market as well as using history to predict areas in Perth, which may outperform.
The factors I'll use to assess the Perth property market in FY 2020 - 2021 includes demand-side factors such as:
Population growth - the number of people coming to Western Australia.
Household size - the average amount of people living in homes.
Ability to buy - How easy is it for the average Western Australian to buy a home.
The Ability to Buy in the Perth property market is influenced by:
Interest rates - the cost of borrowing impacts a house buyer's ability to buy a property.
Household Income - This relates to the ability to buy a house in Perth.
Bank Credit Policy - impacts how much you can borrow.
Relative Returns - what a property investor in Perth may consider to purchase a rental property.
On the supply side, it is important for us to consider:
Construction levels - the number of new dwellings being built in Western Australia.
Properties on Market - The number of rental properties or properties for sale in Perth. Provided by CoreLogic and REIWA.
Each property investor, after watching this will:
Understand Perth's property market fundamentals in FY 2020 - 2021.
As a prospective home buyer in other states, you'll be able to consider this model relative to your property market.
You'll understand the COVID impact on the Western Australian property market.
I'll apply historical market cycles sourced from CoreLogic and REIWA to predict where areas may outperform.