Earth to Perth! Is it Worth a Look In?
A big thumbs down from me for investing in Perth.
It’s a great place to visit and the people are super friendly and give you the time of day. But dropping your cash in Perth at this moment in time, I would recommend against this move.
My reasons to stay away:
- Mainstream media in the eastern states are focusing their attention away from Perth – this is always a clear sign of limited activity.
- The severe downtown, as a result of the Mining industry job losses and workers moving back to Eastern States is the primary driver for the market pull back.
- Office spaces remain vacant in downtown Perth. Some landlords are offering 5 years rent free for tenants that sign-up for a 10-year lease. Trends in commercial property influences the residential property market.
If you have a deep urge to invest in Perth you really need to be requesting a 20%+ discount and/or attractive terms on the purchase.
Perth will get their day in the sun again, but not for quite some time. Use your cash or equity to invest in a more reliable market.
If you have a different opinion, I would love to hear your thoughts.
If you would like to talk Perth Property Investing, or anything and everything property, let’s connect.
Or check out my First Time Property Investing Program.