REMOTE BUYING ON THE RISE IN PERTH
January 2005

Investors interested in capturing real estate bargains in areas outside their home city are leading a boom in so-called 'remote buying', according to a Subiaco-based property buyer's agency.

Property Wizards' Director Trevor Dunkley said Western Australia provided a prime example of why remote buying was on the rise.

"The Perth real estate market is currently much stronger than compared with those in Sydney and Melbourne, and our house prices are more affordable, so many interstate and overseas investors want to pick up property here," said Mr Dunkley.

"More of these investors are now realising they don't have to be in Perth to buy here as the use of buyer's agents, combined with email and the internet means they really can see what they're buying without actually making the trip over."

34-year-old Mike Saarelainen, who works full time at a minesite in Tanzania, was visiting home in Adelaide for just six weeks during the holiday season when he decided to take advantage of Perth's strong market.

"I had a limited amount of time, knew little of the property market in Perth and was a real estate novice, but I believed Perth was the best option for real estate," he said.

"I was only going to be spending a few days in Perth during my trip, so at first I didn't think I'd be able to make the purchase, but I then realised it could be done through a buyer's agent.

"They found a suitable property for me in Mullaloo very quickly and although it initially seemed like a scary thing to do, I knew the agent had intimate knowledge of the market and far more experience than me in checking the quality of property, so it turned out to be very stress free."

But Mr Dunkley said local home buyers who were strapped for time, were worried about selecting the best property or who didn't know enough about real estate could also benefit from the tools used by remote buyers.

"Most buyers will spend many evenings scouring the internet and at least 4 or 5 weekends looking at dozens of properties - many people really want to invest but can't spare that time," Mr Dunkley said.

"Because buyer's agents do all the hard work for them by finding and reviewing the property, investors really don't have to be worried about fitting buying a home in to a busy schedule."

Mr Dunkley said photos and reports meant purchasers didn't even have to physically inspect the property, but he revealed about 80% of local buyers did do so.

"Sometimes people use a buyer's agent to avoid the stress of dealing with so many properties, prices, real estate agents, questions and uncertainties, especially about whether they are paying too much," he said.

"Country residents wanting to buy in Perth could also benefit by not having to travel up to the city to find the property they're after."

**Real estate agents and property investment companies represent the seller or developer while property buyers' agents act on behalf of buyers, using their expertise and databases to search thousands of properties and find the best investment to meet clients' needs.

For more information, please contact
Mr Trevor Dunkley
Director
Property Wizards
trevor@propertywizards.com.au
Tel: (08) 9381 7450