Realmark Urban works closely with Sydney-based boutique buyer’s agency Zenvestor, assisting their clients with asset management on the ground in Perth.
Sid Widge from Zenvestor said the interest in Perth from east coast investors is simply a case of golden opportunity.
“It is one of the most affordable places in Australia, at this point in time, with some of the highest yields in the country,” said Mr Widge.
“Whilst affordability and higher yields are driving quite a few mum and dad investors over, the more sophisticated investors, including buyer’s agents, are seeing a lot of positive drivers in addition to those two factors.
“The demand is far outstripping supply, making Perth property market a pressure market, causing a positive impact on both rents and prices.
“If you compare this to some of the east coast markets, especially Sydney and Melbourne, the yields are now averaging 3% or sub 3% in some areas, whilst prices are twice as high as WA prices.
“The numbers are simply not stacking up for investors on the eastern side.”
Mr Widge said he recommends opportunities across a variety of market segments in Perth to clients who are focused on growth prospects as opposed to location.
He believes east coast investors follow the data, often giving them an edge of West Australian investors who may have a lived local bias.
“Local investors still have a bad taste due to the last downturn and this puts subconscious bias and fear towards investing,” said Mr Widge.
“Whilst there was a lot of pain during the last downturn, it doesn’t mean it will last forever, the best advice here is to follow the data, understand the demand and growth drivers, apply an investment selection criteria regardless of location.
“If it stacks up invest confidently!”
Mr Widge provided advice for West Australian investors eager to grow their portfolio in the competitive space.
“To buy in these markets, you need to be quick, this means have your finances ready, research the area thoroughly beforehand, establish relationships with local agents, speak to them regularly, give them your brief and ask them to keep you in the loop should something suitable become available,” he said.
“A buyer’s agent, someone who works solely on behalf of the buyer, can also greatly assist, they have contacts and relationships with local agents and often get access to off-market deals which ensures they do not compete with the general public.
“This will ensure you won’t overpay for a property.”
Zenvestor have assisted numerous clients purchase off markets in WA, if you are struggling and require some help or advice, you can get in touch with them at info@zenvestor.com.au or on 0429 848 502.
Realmark Urban’s property managers have the ability to meet the needs of both local and eastern states investors to ensure their asset isn’t undersold on return.
“I have been working with hundreds of interstate investors over the last 12 months and have really fine-tuned an incredible leasing strategy to assist interstate buyer and buyers agents, ensuring I reduce vacancy periods, maximise returns and reduce risks by choosing the best quality tenant for the valuable investment,” said associate director of property management, Emma Thorpe.”
“If you would like to know more about how I can assist you, please ask me.”
Contact Realmark Urban on (08) 9388 3911 and enquire about property management.