Perth Land Prices are Rising
“Homebuyers seeking residential land lots in Perth are paying top dollar for some of the smallest blocks in Australia” – Nicole Cox, Realestate.com.au
A recent report shows that the average price of land across the Perth metropolitan area is $730 a square meter, making Perth the second most expensive capital city in the country. However, Perth also has the lowest average block size, equal to Adelaide, at only 375m².
This isn’t deterring people eager to build in WA’s capital however, with residential lot sales increasing 5% in the last quarter, up nearly 20% compared to this time last year.
With land prices so high, it’s important that you select the right area to buy and build – take into consideration future expected growth, local amenities such as schools and public transport, and how your new house will compare to the many others being built around you.
How to Increase Your Property’s Rental Value
With such a competitive rental market, we’ve identified the top 8 tips that can quickly and easily increase your rental income as well as making your property stand out from the rest! You can find out more here.
Perth Rental Market Snapshot
If you have an investment property and are interested in an obligation-free chat with one of our experienced Property Managers, contact us today!