Western Australia, (WA) covering the entire western third of the country, is made up mostly of the arid Outback. Its population is concentrated in its fertile southwest corner, home to the Margaret River wine region and the riverside capital, Perth. In the far north, the Kimberley region is home to ancient Aboriginal rock art, the Bungle Bungle sandstone domes and Broome, with Cable Beach having camel rides, and a pearling industry. WA also has some of the world’s richest and extensive iron ore deposits from which substantial export revenues are earnt each year.
Area: 2.646 million km² Population: 2.667 million (Sept 2020)
Property Outlook
Perth’s property market has been relatively calm compared to other states, having not been substantially impacted by major COVID outbreaks or lockdowns. The growth in average selling prices has been less than 10% since the start of the year to 1 September. However, listing stocks are at historically low levels and with other states opening their borders, this could lead to a shift of interest from the high prices found in the eastern capitals of Sydney, Melbourne, and Brisbane, to Perth and regional WA.
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