This article was featured on Smart Property Investment in July 3, 2019 and was written by Sasha Karen.
Property investors looking to buy low have had the option of Western Australia for multiple years, but that time is coming to an end, as Glenn “Goose” McGrath of Dashdot claimed that the green shoots of growth are showing up, and he does not expect them to stop any time soon.
[There’s] a lot of exciting data impressing around that area and some really progressive capital development plans that are going to decentralise Geelong and Parramatta ideas in Victoria/NSW, so that’s looking pretty exciting,” Mr McGrath said.and make major economic hubs not dissimilar from
“For a lot of people, that’s going to be possibly a little bit too risky, so we consider that to be for more ambitious and more experienced investors.”
For those who are fine with the risk, Mr McGrath said now is the time to get into the Western Australian market, and recommended to look for under-value market opportunities.
“We’ve seen the market come off by tremendous amounts in those areas, so even if there was a rebound form of five years ago, we’re going to see huge uplift over the coming years,” Mr McGrath said.
“The best projects that we see there are the small development projects, so the yields are not necessarily in the right place, but the right opportunity to get great sites that are under value that can hold their own in terms of yields, that’ll have great future development potential.”
If investors want to find optimal properties that have that future development potential, Mr McGrath recommended to look for properties priced between $450,000 and $600,000.