The West Australian (WA) property market is continuing to grow, thanks largely to the region's continued resources and mining boom, it has been claimed.
Research by MacroPlan Dimasi found that much of the cash being spent by investors in WA is being directly translated into increased value for residential sites in the area, according to Property Report.
Otan, who commissioned the report, suggested this shows that the WA market continues to be in relatively rude health compared to its counterparts.
Managing director Mark Butler said: "The Western Australian economy has remained resilient throughout the after-effects of the global financial crisis and will continue to experience growth."
Median house prices have stabilised and a lack of residential vacancies is helping push rents back up, according to the study.
The Property Council of Australia recently launched a report detailing its 2013 priorities, with increasing green residential developments in the country as a whole and WA in particular a key component of its scheme.
Posted by Steve Douglas
