What’s Happening In the Western Suburbs Market

In This Episode

In this WA Property Q&A podcast episode, we chat with Jamie Harrington, the Principal of Hub Residential. He talks about the high demand for apartments in the Western suburbs, which is driving up prices. When asked about the market’s status, Jamie gives a positive outlook, stating that the Western suburbs property market is strong and not showing signs of decline. However, this also makes negotiations tough. In summary, the market has recovered after lockdown and presents opportunities for significant value growth. It remains relatively affordable compared to Sydney and Melbourne.

Make sure you catch the entire episode for insights on:

• Jamie’s positive market outlook

• Shifting apartment demands

• Decreased interest in land and fixer-upper properties

• The wisdom of land banking as an investment

• Soaring property values after COVID

• The challenges of property FOMO and making offers

• The future of real estate in the Western Suburbs

Chapters

0:00:00 Introduction

0:01:31 Demand and Market Trends in the Western Suburbs

0:03:17 Rising Popularity of Apartments in the Western Suburbs

0:05:15 Shift from Investor to Owner Occupier Market

0:07:42 Land and Properties Needing Work in Less Demand

0:09:33 The Value of Land Banking and Development Opportunities

0:11:04 Knock Over and Redevelop for Better Product

0:13:16 Rapid Increase in Property Value Post-COVID

0:15:06 Challenges of Making Offers in a Competitive Market

0:17:36 Uncertainty and Market Resilience During COVID

0:22:10 The Importance of Price Guides in Real Estate

0:24:31 Putting Time Limits on Offers and Seller’s Decision-Making

0:28:12 The Buyers and Sellers’ Access to Market Data

0:30:42 The Future of the Real Estate Market in Western Suburbs

0:32:40 Positive Outlook for the Economy and Real Estate Market

0:34:03 Closing Remarks and Advice for Property Buyers in Western Australia

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