Western Australia light rail receives $15m funding boost
With a growing population, thriving resource industry and a number of major projects earmarked for the state, Perth could be set to become a property investment hotspot among savvy buyers.
The rapidly growing capital of Western Australia is already earmarked for a number of massive projects, including the state's first light rail project - the Metro Area Express.
State premier Colin Barnett and transport minister Troy Buswell launched the official project yesterday (September 2), announcing a funding boost of more than $15 million for its planning.
Mr Barnett explained: "MAX will power Perth commuters into the future, helping to reduce congestion into the city from our inner north and manage population growth as the city expands to as many 2.7 million people by 2031."
With major infrastructure projects such as this scheduled across the resource-rich state, those looking to purchase a lucrative residential property investment may be interested in the Western Australia real estate market.
Boasting considerably lower house prices than the more populated eastern states, entering into the Perth property sector is likely to be an affordable option for homebuyers.
"The launch of this project is a major milestone for Perth and will be an important part of this city's transformation during a period of strong economic and population growth," Mr Barnett said.
The MAX transport system, which is expected to begin construction in 2016, is expected to connect Mirrabooka with Perth city via Alexander Drive and Fitzgerald Street.