Australia’s West Coast experiencing property boom

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by Kay Murchie

According to Principal International, the overseas investment property company, the city of Perth on Australia’s west coast is experiencing a significant property boom and is rapidly becoming the country’s most successful all-round city ahead of Sydney.

Statistics show an incredible 46% rise in property prices up to September 2006 making this a first-class investment for an overseas investor. The rise in activity has been put down to a worldwide product boom, with Perth turning into the leading provider of natural resources such as liquid gas and iron ore to China.

The recent development of the city has meant that its magnificent coastline now stretches a total of 70 miles alongside the business district as a result of which the number of residents is expected to rise by 25% in the next 10 years, creating an exciting opportunity for the long-term investor.