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Property News

WA is Australia's strongest residential real estate state

April 30, 2012

The resource explosion in Western Australia has seen positive economic outcomes for a range of industries across the state - not least of which is residential real estate.

According to a report from Commonwealth securities, WA is showing all the signs of leading the way in terms of the country's employment statistics, retail figures and construction projects.

Over the last three months of 2011, the economic output from the state was up by 32 per cent when compared to the average level of activity it delivered over the last decade.

Translating this across to housing markets, this means that more workers have access to higher wages - and still others are looking to get a piece of the action.

As demand for space grows, so too does the market opportunities - investors interested in putting their properties up for lease may be able to realise a substantial return, while buying a house in certain regions could also be a wise investment move.

Commenting on the opportunities available to the country as a whole, prime minister Julia Gillard recently stated that Australia's economy is fast becoming the envy of its developed counterparts, with some peers perhaps being willing to "cheerfully chew their right arms off" to be in a similar position.

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