The established dwelling sales market in Western Australia has recovered from a mid year slump in 2004. This turnaround is largely attributable to continuing large numbers of first home buyers and resurgence in sales of investment properties, particularly in the outer suburbs of Perth and the in regional WA, said REIWA President Greg Rossen.

According to Mr Rossen, the higher numbers of interstate and overseas migrants to WA combined with high economic growth are the key factors behind the strong demand for housing in WA. Economic indicators suggest that these positive settings are very likely to be sustained through 2005.

In the year to December 2004 the median house price for the inner suburbs grew by 2.7% but in the outer suburbs the annual growth rate was 12.9%. This reflects the strong level of activity in the first home buyer market and the strong demand for affordable investment properties.

The largest increase occurred in Bunbury where the median house price in the December quarter 2004 was $223,500 which is a 37.8% rise over the past 12 months.

In view of these statistics, any Perth resident holding real estate assets should consider the following:

• Are you paying as little as you can for the most flexible mortgage product available?
  When was the last time your property was re-valued ?
• The equity in your property can provide you with an excellent opportunity to capitalise on the growth potential still present in the Perth real estate market.

To ensure that you are prepared to take advantage of all investment opportunities that may come your way, please complete a Perth Home Loan Refinance enquiry and a Home Loan specialist will contact you to discuss your finance needs.



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