Western Australia: lucrative investment option
The West Australian property construction industry continues to go from strength-to-strength, presenting lucrative property investment opportunities, according to one report.
Despite a weak housing market in the resource-rich state, the strong civil construction sector, combined with the most competitive office market in the country is contributing to an increasingly optimistic outlook for property investors.
According to Design Build Source, the Western Australia market activity is optimum for property owners, the construction sector's workforce, builders and property developers.
The state's residential property market may not be showing strong figures - housing starts are at a current eight-year low - but the outlook for the 2012 to 2103 period looks more positive.
According to the Housing Industry Association, housing starts in the west are expected to increase by 25 per cent in the next year and a further five per cent in the following year.
Western Australia has the tightest office property market in the country as a result of the state's thriving mining sector - presenting lucrative investment options.
The Property Council has predicted that capital growth in Perth offices will surpass any other state in the next year, as well recording the second-highest level of industrial property price growth.