One of the questions I didn’t have time to answer in the LIVE ZOOM session on Thursday, came from Nick, who wanted my take on Perth’s market between now (2024) and 2030.
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While I can’t give a precise indication on what may occur, Perth’s last epic boom lays out a perfect guidebook for what we could expect.
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The boom that eclipsed all others
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I can find no other real estate boom globally that was on the same magnitude as the one that occurred in WA between the early 2000s hitting an eventual 2012/2013 peak post the global financial crisis in 2008.
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Perth’s median property prices rose 113%. Many individual property prices trebled (and more) in the same period.
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By comparison, median values grew a lesser 30.2% in Sydney over the same period.
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And no wonder Perth’s property market skyrocketed…