General
WA real estate outlook for 2021 brings warning of housing challenges as property sales take off
Blink and you’ll miss it.
Key points:
- In November, properties across Perth sold at the fastest rate since 2006
- One developer sold a year’s worth of blocks following government stimulus
- Property forecasters say more investors are likely to enter the market in 2021
As Stephen McVey made the jump into property investment this year, houses were moving fast.
“You’d wait your turn, have a quick look around. You go home and think about it, and you’d come back and it’s gone,” he said.
Mr McVey and his wife want to self-fund their retirement, and started looking into property as interest rates dropped.
They were not the only ones trying to snap up a bargain, with properties across Perth selling in November at the fastest rate since 2006.
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