Perth tipped to be a hotbed of property investor activity in 2022, with double-digit growth forecast

Perth’s property market looks set for a year of double-digit price growth, an even tighter rental market, and the return of investors in 2022, experts say.

And most industry players agreed the biggest factor that will impact the residential market will be the planned opening of Western Australia’s borders in February.

“I think the fact that the Western Australia’s border has been tighter than other Australian borders is likely to be having an impact at the moment,” PropTrack economist Anne Flaherty said.

“And what I would anticipate is once it does open in 2022, we are probably going to see a little bit of an uptick in activity in the property market. Now, that’s going to come from those people who are looking to sell, and also people who are likely looking to buy.

“One thing we saw in Victoria and New South Wales was that following the easing of border restrictions, there was a big uptick in the number of people who were willing to put the properties up for sale on the market and I would expect to see not as dramatic a trend in WA, because it’s a bit further away, but a similar trend.”

Realmark Coastal managing director Sean Hughes said WA’s strong economy was likely to be a major drawcard for people choosing to live and buy in Perth.

“I have never seen as much international and eastern states enquiry as what I am getting at the moment – and have been getting over the last six months,” Mr Hughes said.

“I think that’s only the tip of the iceberg. I think with borders opening in February, why wouldn’t you want to come to Australia? Why wouldn’t you want to come to WA?

“It is so compelling and we have the most affordable real estate.

“I think what I am starting to see trickle through at the moment is the investors starting to come back from [the] east coast where they are going: ‘I want my portfolio diversified. I want some of WA. I can see it’s going to be the next growth phase.’”