A survey carried out by real estate developer Harcourts has found that Australian property investment is an increasing factor in the housing market of Western Australia (WA).
It revealed that 51 per cent of the people who had bought property from the developer in the last 12 months had done so for investment purposes, higher than the national average which Harcourts places at around 31.5 per cent.
Auction sales across the country this weekend were underwhelming, with a 53 per cent clearance rate reported in Victoria and a 50 per cent clearance in Sydney.
However Stuart Cox, chief executive officer of Harcourts, found the data brought up by its research reassuring.
"The results are surprising given the challenges facing the state's property market but it's fantastic to see that there is a good level of investor activity in the marketplace," he said.
He added that if interest rates remain stable and rental vacancy continues to tighten he expects even more interest from property investors.
Posted by Steve Douglas