With a total land area of more than 2,500,000 square kilometers, Western Australia, or WA, is the country’s largest state. With the Indian Ocean northwest and the Southern Ocean towards the south, it is right next to the Northern Territory and South Australia. It is also the second largest in the world in terms of country subdivision, home to about 2.6 million inhabitants and nearly 80% of this number concentrated in the Perth area of the state, while the rest is sparingly located in the rest of the state. With a steady economy and an increase in demand as seen during the last couple of years, the Western Australia real estate market is set to rise in the scene.
Western Australia: A Brief Background
When buying a house in Western Australia, one should keep note of its natural history, terrain, and climate. Normally, Western Australia experiences 300 millimeters in annual rainfall, brought upon by the sporadic falls and the cyclone events during the summer, with the exception of the northern tropical parts that experience somewhere between 500 to 1500 millimeters of annual rainfall. Snow is quite rare here, with only the Stirling Range meeting it during the season. It is once heavily forested, and is included in the nine-most biodiverse terrestrial territories for different floras and faunas.
Western Australia plays a huge part in the country’s economy, and is one of its main driving forces. In the mineral exporting industry, it contributes to up to 58% in its totality, nearly 4.64% of the entire country’s GDP. It’s per person GDP amounts to more than $100,000, which is visibly higher than the country’s average of just over $60,000. Construction, finance, insurance, exports and many more industries keep the state afloat and abundant in opportunities.
The state has a number of outstanding schools for children, and a couple of top notch universities for older students. Excellent facilities are all over the state, and the diversity keeps it welcoming too. All in all, Western Australia presents a laid-back and relaxed lifestyle in the backdrop of wondrous nature and the convenience of a modern state. Surely, the best time to invest in the real estate in Western Australia is now.
If you are planning on purchasing property in Western Australia to have it rented out, you should be familiar with the Leasing Regulations in Western Australia. The state has its own leasing regulations on top of the nationals leasing laws.
Top Suburbs for Western Australia Real Estate Market
Other States in Australia
Other locations in Australia are equally as desirable as Western Australia. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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