I somehow didn't think Grant would be stating 10% pa.
Median or average prices can be very misleading as well.
Some suburbs in Perth have had 50% or above price increases in the past 12 months. Then you look at the sales and see only a couple of sales at the top end of the market range for that suburb totally distort the true median value of the suburb.
When interest rates rise the over priced inner city apartments will come under even more pressure than they are starting to feel. This will probably see a price growth in the lower to mid priced refurbished suburbs. The overall median price will be down but there should still be growth opportunities in these areas greater than the median % average.
Perth has an abundance of such opportunities and not having the same stella growth of the eastern states offers the potential for a lot of eastern states money coming into the state.
I guess I am biased though because I have a property investment in such an area.
