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Irish Investors Bombarding Perth

The Perth property market has been bombarded by Irish investors taking advantage of their strong economy and the cheapness of Perth realestate market.



Mr Brett Wilkins managing director of Pro Property a CBD real estate agency in Perth, Western Australia said that his firm since January 1 had completed over 25 transactions to Irish investors.



Pro Property had always seen reasonable enquiry from English and Irish investors but the number of separate investors and property deals in 2005 was incredibly strong.



Mr Wilkins, who has been involved in offshore sales of Perth commercial and residential real estate for over 20 years, said this activity reminds him of the South-East Asian investors in the early and mid 1990's. Though the individual purchases todate have been modest with an average price of $625,000, their love of the Perth lifestyle combined with the very strong economy growing at 3 times the National average and the cheapness of the real estate with Perth residential having the cheapest Home Affordability Index in Australia will see them purchase more and for increasing dollars.

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