STRONG OPPORTUNITIES FOR SAVVY BUYERS
17 May 2005

The West Australian real estate market will continue to provide strong investment opportunities in the coming year, particularly for savvy buyers and "forward thinkers', according to Perth buyer's agency Property Wizards.

Managing Director Liz Sterzel said that people who understood the industry and were able to see long-term benefits through the fog of short-term inconveniences would benefit most.

"Some excellent buying opportunities exist in areas where major projects are underway or planned, and people who can see the long-term potential will greatly benefit from taking advantage of these," she said.

"For example, property values from Perth to Atwell are likely to be held back somewhat due to the inconveniences caused by the roadworks for the Southern railway line.

"This is the perfect opportunity for 'forward-thinking' buyers who can see past the two years of traffic jams to the end result: sound investment properties surrounded by improved infrastructure.

"However, it is important to remember that not every property in these areas will grow in value. It is critical to do thorough research and select high quality properties for the best investment."

Ms Sterzel said the economic benefits of this type of "forward thinking" were currently being enjoyed by those who invested in the Rockingham to Mandurah strip and have seen the waterfront transformation come to fruition.

"The promise of the Southern railway line, combined with government and private investment, will continue to drive up prices up from Rockingham to Mandurah," she said.

"In a similar sense, proposed developments such as the marinas at Ocean Reef and Port Coogee will be a boon to surrounding suburbs as buyers anticipate the lifestyle and value benefits similar to those that occurred at Hillary's marina."

Other "hot spots" included Hamilton Hill, which was due to benefit from a government New Living upgrade program, and the Riverside waterfront development in East Perth, which had just been announced.

Ms Sterzel said although the real estate market in Perth would remain among the strongest in Australia in the coming year, buyers needed to make sure they did their homework before investing in a particular property.

"Overall, the market in Perth is expected to rise 8 to 10 per cent in the next 12 months, with growth fuelled by record numbers of interstate investors and overseas migration," she said.

"This means that demand should continue to increase for quality investment properties with attractive rental features and sound capital growth prospects.

"However, many ordinary properties on the market are not moving as quickly, which means that owners may have to accept more moderate prices.

"This coming year, more than any other, it is important to get sound advice to maximise the Perth real estate market's significant investment potential."

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