MCG in the Media
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Orana Durney-Benson - Real Estate Business, Smart Property Investment - November 9, 2023
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Sue Williams - Domain, AllHomes - October 27, 2023
Perth renting: Dire warning as vacancy rate drops further
Sarah Brookes - Brisbane Times - October 12, 2023
Calls for a 'land tax discount' as vacancy rates drop
Kate Aubrey - Mortgage Business - October 11, 2023
Economist Anne Flaherty from PropTrack explained that the expenses associated with maintaining investment properties have surged in recent years, prompting more investors to divest their assets.
The comments coincided with recent data from MCG Quantity Surveyors, which observed there had been a spike in investors exiting the eastern parts of Australia, while Western Australia had experienced a surge in new investments.
Another challenge for tenants is that, more landlords have sold their properties than those buying, further reducing the supply of available homes for sale.
Property investment boom in WA gains momentum
Build Australia - October 10, 2023
MCG Quantity Surveyors analysed client data to identify how investor activity has shifted in 2023 and the results show a resounding move west.
MCG Managing Director Mike Mortlock said: “It’s been really substantial and doesn’t look like slowing anytime soon. We compared client investor activity across the first quarters of 2022 and 2023, and this revealed a seismic shift away from east coast property investment.”
According to MCG’s numbers, in Quarter 1 2022 just over 9 per cent of investor activity was in Western Australia. In Quarter 1 2023, that proportion rose to 32 per cent.
Brokers observe a boom in WA property investment
Kate Aubrey - The Adviser - October 10, 2023
According to MCG Quantity Surveyors, investor activity in Western Australia has risen to 32 per cent in the first quarter of 2023, up from 9 per cent in the same period in 2022.
This data indicated that Western Australia has attracted investor interest from other regions, with NSW and Queensland witnessing the most significant declines, dropping by 9.91 per cent and 6.26 per cent, respectively, compared to the previous year’s quarter.
Additionally, investor activity has decreased in Victoria by 4.14 per cent, followed by Tasmania (-3.79 per cent) and South Australia (-1.18 per cent).
Investors flee the eastern states for Western Australia
Rowan Crosby - Elite Agent - October 9, 2023
MCG Managing Director, Mike Mortlock said property investors were honing in on WA.
“It’s been really substantial and doesn’t look like slowing anytime soon,” Mr Mortlock said.
“From what we can determine, Western Australia’s significant jump has come at the expense of New South Wales and Queensland.
“The proportion of activity in NSW fell by almost 10 per cent between the first quarters of each year.
“It’s worth noting, however, that every state and territory except the ACT has lost a proportion of their investor activity to Western Australia.”
East Coast property raiders rushing to WA as it becomes leading State for property investment
Raquel de Brito - The West Australian - October 8, 2023
MCG Quantity Surveyors managing director Mike Mortlock told The Sunday Times it was the first time WA had recorded double digit share of the investor pool.
Mr Mortlock said the results aligned closely with outcomes from the recently released Property Investment Professionals of Australia 2023 Investor Sentiment Survey, which showed 25 per cent of respondents picked Perth as their preference for investment – the number one choice among all the capital cities.
“A combination of our data and the PIPA results resoundingly demonstrates Western Australia’s dominance in attracting property investors,” he said.