Regional WA property markets have been amongst the worst performing in our nation over the last year, casualties of the mining boom winding down.
The REIWA recently updated its figures for the Western Australian regional markets and produced the following video summarising what’s been going on in these very fragmented markets.
What surprises me most about this video is how the presenter smiles as she explains how property values in some regions have fallen over 20% in the last year.
I’ve always warned of the risks of investing in mining and regional towns which:
- comprise of transient populations that are almost solely reliant on resource project employment and therefore experience large swings in demand.
- are driven by investors buying properties rather than owner occupiers
And many of Australia’s worst property markets over the last few years have mirrored the ups and downs of the mining sector.
You may also want to read: Learn From These Towns Where Prices Boomed Then Busted
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.