Perth’s 2019 Market Insight and Predictions

February 13, 2019

The latest prediction for the Western Australian real estate market from MLV

 

On behalf of MLV we would like to wish ICP’s valued clients and tenants a happy new year.  Following a challenging 36 months in the West Australian industrial market, we truly sense the worst is behind us and the positive sentiment will continue into 2019.

The West Australian Industrial market is heavily linked with the resources sector.  An increase in mineral exploration, as well as a number of large oil and gas projects commencing, has seen a marked increase in demand to lease industrial assets.

Enquiries from realcommercial.com.au have quadrupled for the first half of the financial year compared to the same period last year.  We are encouraging our clients to invest in their assets to improve both presentation and functionality as there has been a ‘flight to quality’ by tenants and owner occupiers as they look to upgrade their existing premises.  The sales market has rebounded in the last 6 months as well following a reduction in land values.

We look forward to a successful 2019 and continuing to help both landlords and tenants with their property requirements throughout the year and beyond.