Australian investment property advisor, SQM’s Louis Christopher reports that WA’s luxury housing market is one of the most discounted in Australia. Anything above the $2m mark is getting hammered at present. SQM believes the market is in turnaround and is on the increase but the market for $2m plus properties is so limited that any contraction in the number of buyers means things will be discounted. This is one of the main reasons when I am giving any Australian property investment advice to someone not knowing how to get started in property investment, I advise that people buy around the median house price of the city. Buy too high and you will have a greatly reduced market to be able to sell to and rent to. This in turn can lead to higher risk.
