Investors believe in WA apartment values
Survey results released today by the WAAA, has shown that 86% of WA investors believe their apartment will increase in value within the next ten years.
The Research, which was distributed nationally with the assistance of Strata Community Association (SCA), reflected 1158 WA respondents, of a total of 3312 apartment owners and renters.
The data further showed that 82% of investors bought an apartment because of its location with only 39% quoting because it was affordable. Being close to public transport (49%) and low maintenance (38%) were also part of the decision-making process.
Furthermore 61% planned to buy an investment property again with over half stating that apartments would be part of that consideration.
Ms Samantha Reece, Director of WAAA stated that what was more interesting was the preference for three bedroom two bathroom apartments for investors when considering their future purchases.
“37% of investors were seeking a three bedroom and 70% two bathroom when looking for their next investment purchase,” Ms Reece said.
“71% were also seeking 2 carbays and 53% said they would look to purchase either on the coast, river or inner City.
“This data is vital for developers as they move into this next phase of releasing new projects to market and making sure they are providing the right mix for WA buyers.”
There were 307 apartments sold in Perth in Q4 2018 with 56% of those representing owner occupiers. However notably up from previous quarters, 20% were also investors.
Ms Reece said that Perth offered a range of unique opportunities with the onslaught of recent infrastructure projects.
“East Perth, Burswood, Perth and Fremantle are all located on public transport, have just secured fantastic new assets including the Optus Stadium and this certainly will add value in the long term,” Ms Reece said.
“The East Coast is certainly viewing Perth as highly affordable and with the minerals sector once again firing on all pistons, we are bound to see some buoyancy in the apartment market in locations which offer long term property growth.”
WAAA is the voice for people who choose apartments in WA. It seeks to demonstrate the need for housing choice in WA and the role that apartments can play. If you wish to comment about what Perth could be doing to create more choice of housing then log onto www.waaa.net.au.