Yet another positive article I came across today:
THE Pilbara's renowned property market will continue booming in terms of escalating prices and rents, while Perth is tipped to have a strong recovery this year, experts say.
The State’s North-West, in particular Port Hedland, South Hedland and Newman, have secured a strong positioning in a list of 50 hot spots identified by an expert panel for magazine Smart Property Investment.
Meanwhile Perth and its surrounding regions were highlighted as strong investment opportunities, with Murdoch, Como and Fremantle all recommend as hotspots.
A total of 10 WA suburbs made the list of national hotspots.
Resource towns in WA made up a significant proportion of the suburbs listed while Mandurah suburbs Greenfields and Halls Head were also both named hotspots in the 2012 Fast 50 Report.
According to Fast 50 contributor Helen Collier-Kogtevs, a well-known property mentor and director of Real Wealth Australia, the Pilbara region boasts high capital growth prospects plus strong positive cash flow opportunities.
“It is strategically important to the national economy, has great historical performance and great projected performance, low vacancy rates, high per capita income levels and a shortage of, and high demand, for housing,” she said.
Property economist Dr Andrew Wilson said the Perth capital city market appeals as a standout prospect for house price growth with the median price set to increase by a double-digit percentage by year’s end.
“With the Perth median house price currently almost 10 per cent below its peak recorded four years ago, together with recessed levels of new construction and a flood of workers seeking the wages bonanza delivered by nearly $100 billion in mining industry activity, it is not unreasonable to expect a significant increase in home buyer activity in Perth through 2012,” he said.
The panel of experts suggested Mandurah’s dramatic drop in house prices, falling below the pre-boom mark in recent years, leaves plenty of room for growth later this year and into the future.
Smart Property Investment editor Phillip Tarrant indicated that while capital growth was no longer a given in real estate, it was still achievable.
“We’re moving into a new era for property in Australia and investors will need to do their homework and buy strategically in order to secure the best returns,” he said.
The panel also highlighted 18 suburbs and towns in NSW, including Muswellbrook, Bathurst, Penrith, Blacktown, Neutral Bay and Goulburn - making that state dominant.
There were also six areas in South Australia and four in Victoria.
Canberra also fared well in the list because its high incomes and a scarcity of land would underpin strong growth in property prices.
This information was gathered from:
http://www.perthnow.com.au/business/nations-property-hotspots-pilbara-perth/story-e6frg2ru-1226246249061
DEB BRADY
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