Terry Ryder is the director of hotspotting.com.au and has just released the latest edition of Western Australia Hotspots Report. He had these words to say:
"Key property markets in Western Australia are rising strongly. You’d never know it, because media keeps telling us the Perth market is falling.
But there’s more to WA than Perth. Key regional centres like Geraldton, Port Hedland, Karratha and Albany have strong markets.
The Perth market must inevitably follow suit. It hasn’t happened yet because most of the spending that constitutes the much-touted resources boom is still to come.
The $43 billion Gorgon gas project is Australia’s biggest resources project but the major work hasn’t started. BHP Billiton, Rio Tinto, Woodside Petroleum and others are planning huge expansions, but the big money hasn’t yet been spent.
When miners start digging holes and raising structures, businesses (mostly based in Perth) will expand, with major impacts for commercial, industrial and residential property in the state capital."
