It seems ambitious Eastern State-based homeowners are getting fed up with the high costs of homeownership in their home cities.
And hey, we can’t exactly blame them!
Consider the median house prices across Australia – Perth’s is $527,000 (March 2022 quarter – REIWA), Sydney’s is $1.1 million, Melbourne’s is $798,198, Brisbane’s is $784,826 and Adelaide’s is $642,470 (CoreLogic National Home Value Index).
Buyers in the Eastern States
When you look at prices like these, it’s no wonder Eastern States buyers (who are open to the idea of relocating or investing in WA property) are being drawn to own or build a home in Western Australia.
Statistical Proof and Verification
The proof is well and truly in the pudding.
Data from the Australian Bureau of Statics for the 2020/21 financial year revealed Perth had the most significant net internal migration gain, along with Brisbane.
With the WA borders opening a few months ago, eastern-states buyers have more opportunities to explore their opportunities in ‘The Golden State.’
Interestingly, recent Finder.com data revealed only 6% of Western Australians were searching for a home outside of WA – compared to South Australia (17%), New South Wales (14%), Queensland 12%), and Victoria (11%).
With WA being one of the country’s most affordable places to own a home, the decision to stay put by many West Aussies isn’t surprising by any stretch.
Eastern Suburbs Buyers Agent Final Take
We predict the trend to continue, with more and more prospective eastern states homeowners taking the exciting plunge to build a home in WA. Feel free to contact our new home builders in Perth now!