Interstate investors have been becoming more prominent in Perth leased property market, securing a series of assets across the past few months.

Ray White Commercial (WA)’s Stephen Harrison, Lachlan Burrows, Enrique Reyes and Josh Sumner have managed six recent sales between them, half of which came from outside of WA.

Mr Harrison said investors from interstate had been quite aggressive in securing investment properties in Western Australia since the second quarter of this year.

Recent Perth commercial sales under $500,000

5/11 Signal Terrace in Cockburn Central – $439,000
4/11 Signal Terrace in Cockburn Central – $451,000
38/12 Junction Boulevard in Cockburn Central – $450,000
2/215 Railway Avenue in Kelmscott – $474,000
6/9 Caloundra Road in Clarkson – $313,000
1/153 Kensington Street in East Perth – $410,000.

"Over the last few months, we’ve seen these six properties snapped up by investors, with a combined sale value of more than $2,500,000,” he said.

"These assets had an average yield of 7.42 per cent and an average WALE of 4.25 and what made them so appealing was stable tenants, affordable prices, location and good yields."

“The general market for investment property seemed to soften in the tail end of 2018, and stayed the same until the second quarter, where we observed an increase in enquiry levels.
 
“These properties were sold in just the last four to five months only, seemingly in time with the results of elections, and the return of the appetite of banks to lend again.”

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