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Mike has prepared some industry-first data and the Trio deep-dive into it for our listeners this week.

Dave's overview of this special city spans it's impressive performance of late, and the uniqueness of Perth when it comes to the house to unit ratio. Mike also weighs in with some interesting history about WA's quest for independence.

66% of Western Australians voted to leave the commonwealth in a 1931 referendum, but for technical reasons, the vote didn't initiate change.

The mineral wealth stands WA disproportionately from other states in terms of federal funds allocated per state and territory, and Dave delves into the state budget and the revenue generated by WA. With WA accounting for half of the nation's exports, this important statistic is very telling when it comes to understanding what drivers influence markets.

Mike's data compared Q1 2022 to Q1 2023 and found that WA had moved from the 4th most popular state for investors to 2nd in that 12 months. In real terms, it was a 22.49% change in favour of WA with every state except the ACT declining in favour over that period. WA represented 9.38% of all residential investor activity in Q1 2022, and jumped to a whopping 22.49% in Q1 2023 second only to QLD at 37.97%. Despite this recent renaissance, Cate reminds listeners that for the 14-year period starting 2007 to the end of 2020, the Perth property market essentially stayed flat. At the start of 2007 Perth had the highest median house value of Australia’s eight capitals, and at the end of the next 168 months, it went nowhere, while house values actually doubled in Sydney.

Mike's insights into population changes are fascinating.. tune in to find out!

Reading the iron ore crystal ball is no mean feat, but Dave shares his outlook. The Trio share their concerns for investors who are rushing in without understanding the volatility and drivers of a market like Perth. Timing the entry and exit is never an easy thing to do. As Dave points out, an over-reliance on mining is a risk.

Lastly, our gold nuggets……

Mike Mortlock's gold nugget: It's important to be heavily researched on the location as best you can. Thinking about resale and retirement should be a key consideration also.

Dave Johnston's gold nugget: "The most important economy to be across is your own economy. Ultimately you need to make decisions that are right for you."

Cate Bakos's gold nugget: The tyranny of distance needs to be factored in to any investor's interstate purchase decisions. Long term buy and hold plans need to be consider the maintenance burden that long distance renovating can create.

Show notes: https://www.propertytrio.com.au/2023/11/20/perth-property-gold-rush/