The upswing in the Western Australian agricultural sector is having a positive impact on the Perth property market.
Over the past two years there has been a record grain harvests and this year’s harvest looks very promising.
The positive impact of the upswing in the agriculture industry on the Perth property market is underlined by Investwise client Matt Wrenn who is an agronomist living in Esperance.
Matt has lived in Esperance for the past five years and during the past year has decided to buy three off the plan apartments through Investwise.
‘”Everyone in Esperance is looking forward to a record harvest this year and that can only be positive for the overall economy.
“The growing strength of the agricultural sector gave me the confidence to buy three off the plan apartments from Investwise at Builton’s apartment developments in Clarkson, Spearwood and Wandi.
“I think it is now a great time to buy property in Perth because it is highly affordable and the market will only improve over time.
“While I own my own home in Esperance, I wanted to build a property portfolio and I plan to buy additional properties moving forward.
“As an agronomist I work with many farmers in the greater Esperance region advising them on soil management and plant production. Confidence amongst the farming community is also very high and they are also looking at expanding their property holdings,” he said.
Andrew Embley, Investwise Business Development Manager and former West Coast Eagles Star said that Matt was just one of a growing number of people involved in the agricultural sector who were using their services to purchase off the plan properties in Perth.
“These astute property buyers realise that properties in Perth are now very competitively priced compared to Sydney where the median house price is now nearly double that of Perth. It is only a question of time before the property market in Perth rebounds.
“Investwise is the research division of the Builton Group we have had a number of people from regional Western Australia who invested in the same Builton projects as Matt – Orchard by the Sea (Spearwood) Wandi Apartments (Wandi) and Ocean Central (Clarkson).
“Everyone tends to focus on the downturn in the resources sector while overlooking the fact that the agriculture sector is now performing very strongly.
“The agricultural sector is now recording a major upswing and this will be supported over the long term by investment and demand for our food products from Asia,” he said.