1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Commercial real estate boom continues in Perth

October 27, 2011

A recent survey by a prominent industry leader has highlighted the growth potential of Western Australia's capital city - with the state displaying some of the best result s in the country.

According to The Property Council of Australia, the region's resource boom has contributed to the massive expansion experienced by Perth's non-residential sectors.

Director Joe Lenzo said that the city was experiencing some of the tightest office rental markets in the nation, with rising rates and a limited number of vacancies.

"Property investors and developers in WA were mostly confident about prospects for the non-residential sector, including the commercial office and retirement living sectors," asserted Lenzo.

"This reflects the rapid expansion of the Western Australian economy that is now underway. The resource and infrastructure boom will underpin rapid growth in Western Australian economic activity for several years, with the boom in investment not expected to peak until at least 2014."

The prevailing market conditions in and around Perth mean that - for investors - the opportunity exists to generate a substantial return on investment over a relatively short time-frame.

However, the pressures felt by smaller firms currently involved in renting office space in the now-lucrative sector may mean they start to consider relocating to less expensive premises.



Related Articles

Mapping out a shift in foreign investment targets

With recent changes to the foreign investment framework introduced by the federal government, ...
read more

How are cash rate cuts impacting the housing market?

There have been predictions of high activity in the housing market following two cash rate cuts ...
read more

Apartment rush still leading national growth

When you are in the market to buy a property in Australia, new homes offer some fantastic growth ...
read more

Latest Articles

State of the nation unveiled in latest report

Each quarter, Commsec releases the State of the States report, which judges each state and ...
read more

Steady as she goes, says the RBA

Many economists and financial commentators have spent the past weeks predicting an Easter gift from ...
read more

2015 gets off to a great building start

With concerns around housing supply coming thick and fast from the Housing Industry ...
read more