Perth property cycle bottoms out, prime market for investors

The latest Housing Affordability Report by CoreLogic reveals that Perth is now one of the most affordable capital cities to buy a property in Australia. The report revealed that on the measurement of price to income ratio, Perth (5.5) was now more affordable than Brisbane (5.7), Sydney (8.3), Melbourne (7.1) and Adelaide (6.2). Only Darwin (4.5) was more affordable than Perth, while Hobart (5.5) was equal to Perth in terms of affordability. These figures confirm that Perth has reached the bottom of its current property cycle. With a population of more than two million, Perth’s high level of housing affordability will draw buyers from Western Australia and interstate to the market in 2017. However, it is expected that Perth’s housing affordability in 2018 will start to mirror those in the eastern states as the supply of homes for sales begins to decline.

By Shane Kempton Posted on Wednesday, 01 February 2017

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