Is It Worth Investing in WA?

Is It Worth Investing in WA with Simon Deering and Heath Bassett

Perth Buyer's Agent Simon Deering


Buyer's agent and co-founder

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    Quick introduction

    Is it still worth investing in property in WA? This question has been on the minds of many property investors, especially given the remarkable growth the Perth property market has experienced in the recent years. To answer this frequently asked question, we’ve turned to two of Western Australia’s leading property experts: Simon Deering and Heath Bassett, co-founders of You&Me Personalised Property Services, the buyer’s agency made for you.

    In this quick video analysis, we’ll explore the current state of the WA property market, examine recent growth trends, and uncover valuable insights that could shape your investment decisions. Whether you’re an experienced investor or considering your first property purchase, this expert roundup will provide you with the knowledge you need to understand and see opportunities in the growing Western Australian real estate landscape.

    Meet our Expert Buyer’s Agents

    Simon Deering

    Co-founder of You&Me Personalised Property Services, Simon Deering brings a wealth of experience in the Perth property market. Known for his strategic approach to property investment, Simon has a keen eye for identifying emerging opportunities in both metropolitan and regional areas.

    Heath Bassett

    Affectionately known as “the Stat Man,” Heath Bassett is the numbers guru behind You&Me Personalised Property Services. With his finger on the pulse of market statistics and trends, Heath provides data-driven insights that form the backbone of the company’s investment strategies.

    Simon Deering and Heath Bassett discuss if buying in WA is still a lucrative investment opportunity in today's dynamic property market
    Simon Deering and Heath Bassett discuss if buying in WA is still a lucrative investment opportunity in today’s dynamic property market

    Expert Insights

    Perth’s 18-Month Property Boom: Causes and Performance

    How has the Perth property market performed over the last 18 months, and what factors have driven this growth?

    Heath Bassett: “The Perth property market has experienced phenomenal growth over the past 18 months. From January 2023 to January 2024, we saw an average growth of 16.7% across the board. What’s even more impressive is that some areas, particularly in the lower price ranges, have seen growth as high as 36%, the highest in all of Australia for that period.

    Fast forward to May 2024, and we’ve seen an additional 6-7% growth, bringing the total to around 23% in just 17 months.

    Low supply and high demand

    This growth has been primarily driven by the fundamental principle of supply and demand.

    Perth is currently the most undersupplied state with the strongest demand, which has been the key factor in pushing prices upward.”

    Simon Deering: “It’s interesting to note that back in January 2023, many top economists were predicting a downturn due to rising inflation and interest rates. However, those of us on the front lines of the market understood that in real estate, it all comes down to supply and demand. When supply is low and demand is high, prices will inevitably rise. And that’s exactly what we’ve seen in Perth.”

    Perth’s Hottest Areas and Top-Performing Properties

    Which areas of Perth have shown the strongest growth, and what types of properties are performing best?

    Heath Bassett: “The Perth southeastern corridor has shown particularly strong growth. For example, Armadale grew by 36% from January 2023 to January 2024 and has since added another 10-12% growth. Similarly, Gosnells experienced 26% growth in the same period. These figures are well above the average, demonstrating the strength of these areas.

    In terms of property types, the ‘investor space’ (properties in the $600K to $1.1M range) has been performing exceptionally well. Properties that were around $470K not too long ago are now priced anywhere between $535K to $550K.”

    Simon Deering: “For investors looking in the $600K to $900K range, I’d recommend staying as close to the coast as possible. This includes areas up and down the coast, extending towards Mandurah. The coastal regions have shown strong, consistent growth and continue to be in high demand.”

    Untapped Opportunities for Investors

    What opportunities exist in regional WA for property investors?

    Simon Deering: “Regional areas in WA are offering some excellent investment opportunities. Bunbury, for instance, has outperformed Perth, growing by 20% compared to Perth’s 16.7% over the same period. It offers good rental returns, beautiful coastal living, and a thriving local economy.

    Another standout regional option is Geraldton. For around $550,000, you can secure a four-bedroom, two-bathroom home on a 600-800m² block, built in the mid-2000s, with a rental yield of around 6%. Geraldton is positioned for growth, has a strong economic outlook, and offers excellent returns.”

    If you’d like to know what rental yield is (and how you can calculate it), feel free to read and watch this article/video.

    Heath Bassett: “To add to that, Geraldton has shown remarkable recent growth, with an 8.8% increase in just the last three months! This rapid growth indicates that the regional market is catching up and offering significant opportunities for investors.”

    Essential Insights for Investors

    • Perth’s property market has grown by approximately 23% in the 17 months leading up to May 2024.
    • The southeastern corridor, including suburbs like Armadale and Gosnells, has shown above-average growth.
    • Coastal areas continue to be strong performers, particularly in the $600K to $900K
    • Regional areas like Bunbury and Geraldton are offering compelling investment opportunities with strong growth potential and attractive rental yields.
    • The fundamental principle of supply and demand continues to drive the WA property market, with Perth remaining undersupplied relative to demand.

    As an investor looking to buy in WA, what options might be suitable for me?

    For investors looking to capitalise on the current Western Australian property market, we’ve compiled the following strategies based on our expert insights. While these provide a valuable starting point, it’s important to note that every investor’s situation is unique. The strategies outlined here are intended for general informational purposes only and should not be considered a substitute for personalised professional advice. We strongly recommend consulting with a qualified property investment specialist or our team at You&Me Personalised Property Services for tailored recommendations that align with your specific financial goals and circumstances.

    With that in mind, consider the following general strategies as food for thought:

    Focus on undersupplied areas

    Look for suburbs where demand outstrips supply, as these are likely to see continued price growth.

    Consider regional investments

    Areas like Geraldton offer the potential for strong returns and capital growth, potentially allowing investors to build equity before moving into the Perth market.

    Stay informed about market trends

    Regularly review market data and expert insights to make informed investment decisions.

    Diversify your portfolio

    Consider a mix of metropolitan and regional properties to spread risk and maximize opportunities.

    Seek professional advice

    Engage with local buyer’s agents who have in-depth knowledge of the WA market to help identify the best opportunities. Whether you choose our buyer’s agency or another, you’ll receive tailored recommendations suited to your investment goals..

    Investing in WA, our conclusion

    The Western Australian property market, particularly in Perth and key regional areas, continues to offer compelling investment opportunities. With strong growth over the past 18 months and ongoing supply constraints, the market shows no signs of slowing down in the near future.

    As Simon Deering aptly puts it, “Guys, look, we love what we do. Hopefully, you’re picking up the passion that’s coming down the barrel of the camera.” This enthusiasm is well-founded, given the current state of the WA property market.

    For those asking, “Is it still worth investing in WA?”, the answer from our experts is a resounding yes.

    However, as with any investment, it’s crucial to do your due diligence, stay informed about market trends, and seek professional advice to make the most of these opportunities.

    Contact us about your property investment in WA

    If you’re looking to invest in Western Australia’s thriving property market, reach out to the team at You&Me Personalised Property Services.

    Contact us using our Contact Form.

    Our expertise and passion for the WA market can help guide you towards successful property investments in this exciting market.

    Remember, in the world of real estate, timing can be everything. As Heath and Simon have demonstrated, the time to consider investing in WA is now. Happy investing!

    Video Transcript

    Perth Buyer's Agent Simon Deering

    About the author

    Buyer's Agent, Co-Founder at You&Me Personalised Property Services

    Helping property buyers get into Perth and Brisbane property faster and for less.

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