Throughout 2019, a range of measures were introduced to boost the property market, and whilst experts agree the effects have not yet been fully enforced, they combined interest rates, mining improvements and economic conditions and saw there had been a lift in the industry.
Add a slight increase in property prices towards the end of 2019 and an improving rental market, WA property experts are feeling optimistic about the 2020 property market. Based on market research, experts shared their professional opinion regarding Perth suburbs to keep your eye on.
Located near the Swan Valley, Brabham is a large community in the infant stages of development. Located near Whiteman part metro net, the suburb will accommodate 3300 new homes, in an iconic location for families. Brabham will be well connected and offer diverse lifestyle options to suit all buyers in the coming years.
Included under the Metro net East, formally the Midland redevelopment, planning has commenced for a major revamp in Bayswater. The redevelopment will see diverse housing options and other amenities in the area to benefit local residents and will in turn, positively impact property prices.
Making the list for 2 consecutive years, Subiaco continues to withhold its excellent reputation in the property market. Local council is working on developing the growth of local business and uplifting the inner-city to attract visitors and new residents. The Subi East redevelopment will be moving ahead and this will coincide with several high-end apartment projects, currently on the market and receiving high interest.
- Canning Bridge Precinct
The Canning precinct has seen a huge lift as downsizers look to the quality apartment projects as an opportunity to secure a lifestyle withy plenty of amenity. Accessible to public transport, the freeway, restaurants and shops, Canning also has the added feature of natural beauty with the swan river at its doorstep.
The most affordable land in the Perth metropolitan area! Rockingham ticks a lot of boxes for young families and first home buyers. Offering natural beauty, retail and large hospitality precincts, Rockingham proves to be a ever-growing suburb. Upgrades on the foreshore and the new marina are all selling points and development won’t stop here.
Overall, WA will remain one of the most affordable places for home ownership in the country in 2020. The property market is predicted to experience better conditions, with positives expected in both sales and rental markets. The fundamentals of the WA economy are sound and it is critical to ensure we have enough skilled trades to secure sustainable building levels in 2020.