Perth property investors aren't exactly jumping for joy.  Around 2007 when we were looking for a new office the state of play in West Perth and Subiaco was so competitive that buyers and renters were outbidding each other.  Not so much now.  A recent search commercial property search of West Perth showed 1,375 offices for lease currently. All of this in a suburb covering an area of less than one square kilometre!

The residential property market is not much better, although we are hearing of Subiaco and inner-city apartment rents increasing slowly.

So, what does this all mean to the average investor?  It pretty much just confirms that property should always be viewed as a 15-20-year investment and all purchases and sales should be carefully considered.  Property is also a "lumpy investment" meaning you can't sell a bathroom or part of a property.  In addition, the changeover costs i.e. duty on purchase and agents' fees on the sale, make this kind of investment as one to be considered extremely carefully.