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Property industry participants are tipping that Perth’s property market will “explode” when its border falls on 3 March, with tens-of-thousands of interstate and international migrants set to swamp the capital:
Industry insiders predict anywhere from 20,000-80,000 interstate and overseas migrants will be fighting over only 10,000 properties in the months after reopening, and the current housing crisis will become a housing “catastrophe” with price rises that tip the market into a boom-bust cycle…
CoreLogic’s latest statistics show currently fewer than 8000 properties to buy in Perth and 2000 properties to rent.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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