The Australian property market is known for its dynamic nature, with each state offering unique opportunities. In this article, we will dive into the operations of properties in Australia, with a particular focus on Western Australia (WA).
WA is in the spotlight, offering exciting prospects for investors and homebuyers. The rising rental demand in WA has made finding suitable accommodations challenging.
Before the pandemic, the median unit rent was $330 per week. Now, with the border open, residents are overseas students returning, rental demand is high, and median unit rental has increased to a staggering $520 per week.
Proactively planning is essential for families contemplating sending their children to study in Australia. At some point, considering investing in a property in WA during the study abroad might be a favour option now compared to renting a house.
Understanding the Australian property market dynamics, especially in Western Australia, is vital for informed decision-making.
As the region offers promising opportunities for growth and investment, potential investors and homebuyers are encouraged to explore its potential.
For families planning to send their children to study in Australia, early preparations are essential due to the increasing rental demand. By staying informed and proactive, individuals can seize the potential this thriving real estate landscape offers.
Source: Interview with Lily Chong, Country Head, Juwai IQI Australia (Aug 2023)
Contact our professional for the best advice if you are interested in investing in properties in WA.
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