Seasoned Sydney investors William Chen and his wife Jessica believe that Perth is primed for long term capital growth and that is why they have decided to purchase property in the City.
William and Jessica, who have been investing in property for 20 years and already have nine investment properties in Sydney, have just purchased their first investment property in Perth with the assistance of Daniel McQuillan, Executive Director of Investwise which is the research and investment division of the Builton Group.
With the assistance of Investwise, William and Jessica have just purchased a two bedroom, two bathroom off the plan apartment at the VUE apartment development in Maylands which is being constructed by the Builton Group.
William, who works in the financial services sector, said that he decided to buy in Perth as a long term proposition rather than for short term gains.
“Perth is where Sydney was 25 years ago and I am confident that over the next two decades the Perth property market will perform very strong as the city matures.
“We decided to buy in Maylands because it is close to the CBD area and also the Swan River. Investwise was able to demonstrate that this area of Perth has the potential to out-perform the overall Perth market due to its strategic location. With the assistance of Investwise, we plan to buy more properties in Perth.
“Perth is a hidden gem in the Australian property market and the reality is that the vast majority of property investors in Sydney still overlook Perth because it is on the other side of the continent,” he said.
Daniel McQuillan, Executive Director of Investwise added that it was only a question of time before more investors from Sydney began to invest in Perth.
“William and Jessica are taking the correct approach to the Perth property market by looking at its long term prospects.
“Now is a great time to use record low interest rates to invest in the Perth property market with the State Government recently releasing its master plan strategy that predicts this capital city will need 800,000 new homes by 2050.
“Perth is a major residential growth city and there are huge opportunities in the current property market that will deliver strong capital growth rates over the coming years in a low risk environment.
“However, investors need to take a micro approach to the Perth property market as some areas will perform above the market average due to lifestyle and new infrastructure factors.
“William and Jessica fully understand this as they are seasoned investors and that is why they utilized the research services of Investwise to assist them in acquiring property in Perth,” he said.