If you’re a seasoned property investor you probably have a few properties in your portfolio by now. Maybe one in Melbourne, another one in Sydney, and another one wherever you are located in Australia. And if you’re itching to add another multi-unit development to your portfolio, we recommend considering Perth for your next property development.
Perth’s property market is performing incredibly well at the moment.
With more Australians moving to the “safe haven” of Perth after COVID-19 increased the opportunity to work from home anywhere in Australia, homes in Perth are getting snatched up quickly. In addition to this, the recent boom in metro WA’s jobs market (thanks in part to the record high iron ore prices) has meant more job opportunities and increased population growth in the short/medium term.
Data from CoreLogic has confirmed that Perth dwelling prices rose by 1.5pc during February and 4.6pc over a year. This data indicates that Perth’s property market is performing better than some other Australian states, such as Melbourne with a recorded -1.3pc over 12 months.
THE BENEFITS OF INVESTING IN PERTH’S PROPERTY MARKET
With soft-sand beaches, scenic parks and a thriving metropolis of small bars, delicious restaurants and curated street art, Perth offers everything renters and home buyers would need in an Australian city.
With arguably some of Australia’s best beaches, it’s not surprising many Australia’s want to live closer to Perth’s clear blue water. Some of Perth’s popular beaches include Leighton Beach, Mettams pool, Bathers Beach, and City Beach.
With a plethora of exciting day trip options, your future renters or buyers will never get bored in Perth. The most popular ones include Rockingham and Penguin Island, Swan Valley, and Rottnest Island.
There are many amazing suburbs to choose from for your next investment property in Perth. If you want to build a property investment close to the incredible parks, lively nightlife and street art of the inner city suburbs, consider Bentley, Carlisle or Lathlain. Or there’s Perth’s waterside precinct of Fremantle. For a more family lifestyle there is Churchlands, Dalkeith and Salter Point.
PROPERTY DEVELOPMENT FEASIBILITY
You don’t need to be a seasoned investor to start investing in Perth’s property market. You can start your investing journey now with the help of a Perth property development builder. No matter where you are in Australia, a Perth development builder will take a lot of the overwhelming parts away with expert advice on building a Perth property development.
The right multi-unit development builder will also help you assess whether your potential investment is worth it. Using a property development feasibility assessment your Perth development builder will provide you with a full breakdown of the costs involved and your expected profit. This will minimise the risks involved in your property development and help you determine your ROI before you even begin.
WHY YOU SHOULD HIRE A PERTH TRIPLEX BUILDER NOW
Part of the reason why Perth is a great city to invest in NOW is because Perth’s R-Codes will be changing soon. If you start your building plans now you will have a lot more freedom to build triplexes on a block of land, but if you wait until next year there will be limitations to what you can build on your block of land. This is due to new landscaping requirements: “20% of the block size needs to be green”.
With these changes the total space you can build your multi-unit developments on will decrease significantly, meaning smaller homes, smaller rooms, and potentially only single-car garages.
Jubilee Home Builders are Perth’s go-to property development builders, Triplex Builder and Duplex Builder. With free feasibility assessments and extensive experience helping investors grow their portfolio with Perth’s property market, we make the process easy and simple, no matter where you are in Australia.
Whether you are a seasoned investor embarking on your fourth multi-unit development, or you’re just beginning, we have created a property development guide to help you on your journey.
Download our guide here and begin your exciting journey into becoming a property investor in Perth today.