- November 20, 2018
- Posted by: Rogers Property Group
- Categories: Australian Property Market, Latest News
The Perth property market may still have not reached its bottom yet. Further falls in volumes and sale prices continue. Not only have property values been stagnate, rents have also fallen. The issue that Perth has is that it is a very shallow market, whose economy almost entirely relies on mining. With little in the way of new mine construction happening, Perth continues to struggle. It will eventually come back but most analysts are saying that it will be another 12 – 18 months before it even bottoms out with further price drops to be expected.
Shallow markets are dangerous markets. I hold property in Perth but it is only a small part of my overall portfolio. I would never buy in any regional market for a buy and hold strategy. I like to stick to the bigger east coast capitals like Brisbane, Melbourne and Sydney to hold assets. They get the major share of the population growth and job growth.