THE PROPERTY DEVELOPMENT REVIEW
This success is largely driven by the surging costs and extended time frames required to build new homes. Properties with stunning views are especially appealing to buyers who aspire to upgrade their lifestyle. When buyers are ready to make a move, they want it to be worth their while. Factors like reduced commute times for families, breathtaking views, or a superior home provide the necessary motivation. How is the residential investment market performing in your area? The residential investment market remains incredibly strong in our area. Despite broader economic challenges, investors are still seeing value and opportunity here. Despite an increase in cost of living, property values have remained relatively stable – how do you anticipate the remainder of 2024 will be in terms of market activity & transaction volumes. Perth’s property market is currently the strongest in the country, and we expect it to maintain this momentum. While we may not see interest rate cuts this year, many banks are already lowering their fixed home loan rates in anticipation of reductions in 2025. With that in mind, we anticipate continued strong market activity for the rest of the year. Ideally, we’ll see more properties coming to market to meet the high demand from buyers. What are the fundamentals that are driving investment & purchasers in your local market area & where are the opportunities for sophisticated investors / developers. The Perth market is being bolstered by strong population growth and an overall increase in wealth throughout the city. This dynamic is attracting a lot of attention from both owner-occupiers and investors, both locally and from interstate. Premium suburbs, in particular, continue to outpace the rest of the market, offering excellent opportunities for sophisticated investors and developers who are looking to capitalise on these trends.
September / October 2024 – 129
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