Regional Western Australia (Aug 2024)

Secured this property for 300K in a Regional center in Western Australia.

An affordable option in a rising market. ⬆⬆

A fairly big town with a population of around 30,000 people and a diversified economy. 

It's one of the very few areas in Australia which has a significant population and where houses could still be bought at these prices. (It is trending up though). 

Here are some numbers: 

✔Purchase price : 300K 

✔Double brick home 

✔2bed,1bath 

✔800m2 block - subdivision potential whilst retaining existing home 

✔Tenanted at 350/week 

Here is why it looks good from a overall LGA trend: 

✔Inventory dropping from 5.19 to 3.32 over the last 6 months

✔Listings dropping from 467 to 361 over the last 6 months 

✔Days on market dropping from 58 days to 39 days over the last 6 months 

✔10 year growth : around 1-2%/annum (clearly has't done much and is due for some growth) 

✔ Interstate migration into the area has been picking up over the last 2-3 years 

✔Significant investment into the renewable energy sector which is expected to create more jobs into the future.