Dale Alcock, Managing Director of the ABN Group and Peter Gianoli, General Manager of Investor Assist talk about property investment in Perth compared to other states, particularly Queensland.
DISCLAIMER: This information is of a general nature only and does not constitute professional advice. We strongly recommend that you seek your own professional advice in relation to your particular circumstances.
Transcript: Dale Alcock and Peter Gianoli discuss how Perth property investment compares to that in other states
Dale Alcock: I think the Perth property market from an investment perspective is one that's really heating up at the moment. You know, you look at Queensland, Queensland has a resource activity going on similar to Western Australia, but the Queensland market is really quite a fragmented one. They've actually had, as we know in recent years, a lot of natural disasters going through there, so they're sort of on the back foot a little bit. Sydney. Sydney's just, I think, a bit of a basket-case from a property and infrastructure point of view. It's not a very efficient city to get around. Melbourne, I think is recovering slowly. It really had a real squirt of activity probably going back about eighteen months ago, a really solid period of about two or three years where there's a lot of activity. Probably overbuilt a little bit, that's been absorbed, we're just seeing, you know, green shoots of activity there. I hope no one listening is from South Australia, not a lot goes on there, so you can probably discount that and Tasmania and the Northern Territory. Darwin is, although Darwin is a pretty hotspot and has really been firing along for quite a period of time, but a very small market.
Back to Western Australia, I just think that the resource activity, the number of people coming into the state or going, is just really putting us there, you know, on the road map and so we're seeing improvement currently.
Peter Gianoli: Yeah, I think the uniqueness about Western Australia was normally just enjoyed by West Australians and if people were considering investing in states other than their own, they would normally think Sydney and Melbourne. Now, we're finding an increasing number of "Eastern Staters," as we like to call them, investing in Western Australia because of property fundamentals. Singaporeans have always had a good appetite for West Australian investment, but now we're also finding Hong Kong, Malaysian clients are also interested in Western Australia. So, yes, your synopsis of the state is right, but I think WA is no longer just an investment hot-spot for just West Australians, it's now an investment hot-spot for people looking at good property fundamentals.
2 min 26 seconds
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