Is now a good time to invest in property?

It has been interesting to watch the real estate market over recent years, some might say you need a crystal ball to understand what it will do and where it might head next. 

Certainly, the effects of COVID-19 saw some turbulence across all sectors but with Perth being largely protected compared to other states and territories, it means consumer sentiment locally is more buoyant and that continues to flow into the local real estate market. 

Southcare’s Chief Financial Officer Enda Fahy, who is part of the Mankara project team, says predicting the future can be difficult. 

“We talk about the magic of Mankara but we certainly don’t use a crystal ball when it comes to forecasting; we prefer to turn our attention to validated industry statistics and then use those to look at robust trends,” Mr Fahy said. 

“Right now, the data very clearly shows us that investing in Perth is certainly looking up, and the results from Core Logic/ Westpac certainly substantiates that. 

  avg*  2018  2019  2020  2021f  2022f  
Sydney  5.1  -8.9  5.3  2.7  10  10  
Melbourne  3.7  -7.0  5.3  -1.3  8  10  
Brisbane  1.7  0.2  0.3  3.6  10  10  
Perth  -1  -4.7  -6.8  1.9  12  8  
Adelaide  1.9  1.3  -0.2  5.9  10  8  
Hobart  3.9  8.7  3.9  6.1  8  6  
Australia  3.5  -6.4  3.1  1.8  10  10  

The current stamp duty offer by the WA Government exclusive to off-the-plan purchasers also indicates it’s a good time for savvy buyers to invest.  

“This offer ends on 23 October and sees up to 75% savings in stamp duty rebates which can be used in any way the purchaser wishes,” Mr Fahy said. 

What are your plans with investing in real estate in Perth as we move forward?  Will you stay where you are, or do you see a move in your future?  Regardless of how you choose to live, the best way to predict your future is to simply create it. 

Want to know more? Get in touch at enquiries@mankara.com.au or 9032 6489 or join our online community on Facebook