Perth’s property market – the case for cautious optimism

Perth’s property market – the case for cautious optimism 10 July 2020 Matthew Hughes Matthew Hughes, Managing Director at Capital Property Advisory July 7, 2020 There’s no doubt that COVID-19 has imbued many facets of our lives with uncertainty. For Perth’s property market, the virus pressed the pause button on what was an encouraging market recovery in early 2020, when we experienced four consecutive months of dwelling value increase – the longest stretch for six years. Prior to COVID-19, WA in general was looking buoyant across a number of indicators. Unemployment was falling, jobs and population growth were trending up and housing supply was contained. This positivity was flung immediately into doubt when the world changed as we know it. But while Perth dwelling values have fallen in the past couple of months, the falls have been slight, at just over 1%. In addition, job losses across WA have been less than the eastern states. Our advantage stems from comparatively less exposure to industries which have been heavily impacted by COVID-19, such as arts, recreation, accommodation and food. While, understandably, many of us remain uncertain about the state of the economy, consumer s

Matthew Hughes, Managing Director at Capital Property Advisory July 7, 2020   There’s no doubt… Read Article

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