Why living in Perth Australia is a world obsession

Perth, the stunning capital city of Western Australia, has been a focal point of interest for property investors and homeowners alike. The real estate market in this vibrant city has experienced significant fluctuations in recent years, impacting house prices. In this article, we will delve into the factors influencing house prices in Perth, and how potential buyers and sellers can navigate the dynamic real estate landscape.

Perth's Real Estate Landscape

Perth's real estate market has undergone substantial changes in response to economic factors, population growth, and market trends. Over the past decade, the city witnessed a boom in housing prices, fueled by a prosperous mining industry and a surge in demand for residential properties. However, the rapid increase in house prices was followed by a cooling-off period due to a decline in the mining sector, leading to an adjustment in property values.

Impact of Economic Factors

Economic conditions play a pivotal role in shaping the real estate market in Perth. As the city's economy is closely tied to the resources and mining sector, fluctuations in commodity prices significantly influence house prices. A thriving mining industry leads to an influx of jobs and population growth, causing demand to outstrip supply, thus driving up property prices.

Conversely, during a downturn in the mining sector, demand weakens, leading to a decrease in house prices. Therefore, potential buyers and sellers must closely monitor economic indicators to make informed decisions about buying or selling property in Perth.

Population Growth and Housing Demand

Population growth is another key determinant of house prices in Perth. The city has been an attractive destination for both domestic and international migrants seeking job opportunities, a high-quality lifestyle, and excellent educational institutions. A rising population drives up the demand for housing, subsequently impacting property prices.

In recent years, the Western Australian government has implemented policies to manage population growth, such as encouraging regional migration and creating targeted incentives. These measures have the potential to balance housing demand and supply, which may stabilize house prices over time.

Market Trends and Investor Sentiment

The real estate market is also influenced by prevailing trends and investor sentiment. Perth has seen a rise in property investors, both local and foreign, seeking to capitalize on the potential for capital growth and rental income. When investor sentiment is positive, it can lead to increased competition and bidding wars, thereby driving house prices higher.

Conversely, if investor sentiment weakens due to uncertainties in the economy or policy changes, demand may decrease, resulting in a potential slowdown in property price growth. Keeping an eye on market trends and investor behavior can offer valuable insights for those entering the property market in Perth.

Impact of Location and Infrastructure

Location remains a vital factor affecting house prices in Perth. Properties in sought-after neighborhoods with proximity to essential amenities, schools, public transport, and recreational facilities tend to command higher prices. Additionally, infrastructure developments, such as new roads, public transportation links, and commercial centers, can significantly impact the value of nearby properties.

Perth's real estate market is a dynamic landscape influenced by a complex interplay of economic factors, population growth, market trends, and location. As property prices continue to fluctuate, potential buyers and sellers must stay informed and adapt to changing conditions. Understanding the intricacies of Perth's real estate market can empower investors to make well-informed decisions, ensuring that they capitalize on opportunities in this captivating city in Western Australia.

How to go everywhere in Perth for $10 (for up to seven people) on Weekends and School Holidays

If there is one tip visitors should take, it is this - get on public transport after 9am (on weekdays) and buy a DayRider. If there are two of you, it will also only cost $10 for both of you - buy a FamilyRider which only costs $10 for two standard fare passengers (and includes up to 5 more children if they have an Australian concession card). However, the DayRider is not always available. It can be purchased on weekends and from 9am on a weekday if it is school holidays or Friday after 3pm during school days. It's one of those passes, that have so many conditions you need to read it carefully many times to see if you qualify. Does the FamilyRider or DayRider include the Airport? Yes it does! Here are the usual fares for Perth as of March 2023. 

Also, if you are using the Smartrider, note that you will never be charged more than $10 per day if you use public transport multiple times. 

So the Family Rider is available for these times - 

• Weekends and public holidays – any time.
• Monday to Thursday outside school holidays – after 6.00 pm.
• Fridays outside school holidays – after 3.00 pm.
• Monday to Friday during school holidays in Zones 1 to 4 – after 9.00 am.
• Monday to Friday during school holidays in Zones 5 to 9 – after 8.30 am.

Perth in Times Square for NYE 2022

 It seems like tonight the spotlight in Times Square New York City will be on Western Australia. Who would have thought that our little abode would get such a high level campaign. For those whose interest in Western Australia has been piqued by the campaign, do leave a comment. Perth, the capital city of Western Australia has changed dramatically over the last ten years. Those that have been back have remarked at the transformation, from the moment that their cab took them from the airport, it seemed like everything had changed. The Tonkin Highway drive into the city is now lined with overpasses and a streetscape that reflects a city growing up. The South Perth foreshore has been revamped, with the Perth Zoo creatures welcoming the ferry from the Perth City and children playing on the small beaches along the river. Then you have the Elizabeth Quay development which is still developing with the Ritz Carlton presence a world class endorsement. There is the Como The Treasury hotel which has been voted as the world's best hotel by Conde Nast a few years ago which sits next to the Perth City library which is an architectural wonder. For those considering the 15 hour flight to Perth, you won't regret making the journey.

Elizbeth Quay

City scape from the City of Perth library