Top 5 Perth Hotspots
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The Perth market has shown greater resistance to the pandemic impact than most Australian markets in terms of sales activity, but continues to be weak on price performance.
This is a recurring theme for the Perth market. Sales activity levels have been solid for the past two years but the city’s market seems unable to break free from the downturn that has afflicted it for the past six years.
In our previous Autumn 2020 quarterly survey, we identified 51 suburbs across Perth with rising sales activity – the second highest result in the five years we have been conducting our regular surveys.
Our most recent Winter 2020 survey was only slightly inferior – 46 suburbs with upward momentum in buyer demand.
But prices continue to refuse to respond to market activity. There seems to be an ongoing crisis of confidence in the Perth economy and its property markets – and, of course, Covid-19 hasn’t helped.
On the other hand, the result in terms of market demand have been quite positive – indeed, more so than in Melbourne, Sydney or Brisbane.
The Winter 2020 survey indicates there are growth markets across the Perth metropolitan area, with 20 municipalities having at least one suburb with rising activity.
In my new 2020 edition of Top 5 Perth Hotspots, I highlight the locations that present the best opportunities to buy well with prospects for future growth.