Average Perth Home To Cost $2.48 Million By 2043, Where will the value of your property portfolio be

 

 

3 Lori Road, Kelmscott
 

For decades, savvy Real Estate investors have always taken a long term view of their property investment and irrespective of whether markets are up or down, have held onto their Real Estate.  For anyone concerned about the future growth of Perth (and Australian) Real Estate, then consider this…
 
Projections show the median house price would be $2.48 Million by 2043! A typical unit for instance costing $1.7 Million, up from $400,000. A Core Logic report released on the 12th of June, shows that over the long term residential property in Perth has been a strong performer, due largely to the surge in housing demand associated with the mining boom of 2003 to 2013.
 
Despite property values tracking lower since 2014. Perth has the third highest growth in house and unit values over the last 25 years. Another significant fact is Perth having 12 suburbs in the national top 100 list for growth in value! An additional contributing factor to the bright and strong outlook  expected for Perth property prices being that WA has the highest rate (24.9%) of first homebuyers than any other capital city/state.
 
Real Estate… still by far the best performing long term investment!
 
Contributing data from Perthnow.com