- According to Momentum Wealth, a growing number of Perth property owners are taking advantage of the market’s rise to extend their property investment portfolio
- CoreLogic, a national research firm, issued updated numbers for Perth’s house market in early October, revealing a 16.37 per cent annual price rise
- Caylum Merrick, Team Leader of Finance at Momentum Wealth, says property owners are taking advantage of current conditions to form a portfolio
- This comes as the Australian Bureau of Statistics reported that investor loans in Western Australia climbed by 86.35 per cent in August 2021 compared to the previous year
According to property investment company Momentum Wealth, a growing number of Perth property owners are taking advantage of the market’s rise to extend their property investment portfolio.
CoreLogic, a national research firm, issued updated numbers for Perth’s house market in early October, revealing a 16.37 per cent annual price rise.
Caylum Merrick, Team Leader of Finance at Momentum Wealth, said property owners are taking advantage of current conditions to form a portfolio.
“With Perth property values recording sustained growth over the past 12 months, many owners have benefitted from an uplift in equity in their property and are seeing this as an opportunity to review their financial position,” he said.
“We’re working with an increasing number of investors, both existing and first-time, who are looking to leverage this equity to fund an investment purchase or consolidate their position while interest rates are at record lows.”
This comes as the Australian Bureau of Statistics reported that investor loans in Western Australia climbed by 86.35 per cent in August 2021 compared to the previous year.
“We have also witnessed similar growth in investor demand, with many investors recognising the unique opportunity at hand to capture both growth conditions and strong rental yields, with Perth continuing to offer some of the most competitive rental yields across the nation,” Mr Merrick said.
Mr Merrick said growth in the Perth property market is expected to continue.
“There’s no sign the current growth phase has run its course, with increased mining activity, widespread skills shortages and ongoing low levels of stock all favouring market growth,” he said.