It's no secret that when it comes to real estate the Perth property market has made a lot of people rich on the back of the mining boom but now it's certainly gone off the boil and cashed up sand gropers are ready to pounce. Gavin Hegney from Perth's Hegney Property Group says get ready for a land rush across the Nullabor.
Anthony Toop says we are a sitting duck for investors from the west�"we're looking at about $360 - $370 at the moment and Perth I think is around the $460 - $470 and really we should be historically, pretty well on parity," he told us.
Apartments in Adelaide are also attracting a lot of interest from investors from the golden west as the Adelaide rental market is tight and offering good returns.
And if you are going to sell your home to a westerner, it might be time to renovate your property and add value but be careful which part of your home you improve.
Re wiring your home will only get you back 25 cents for every dollar spent. A swimming pool 50 cents.
A kitchen and bathroom makeover will return $1.50 for every dollar spent.
But the real value added things to look at it is floor coverings, painting and landscaping that will add $3 for every dollar spent.
They say a property always sells in the first 15 seconds when some drives up and has a look from the street they either go in looking for a reason to buy or looking for a reason not to buy
And if "you" are in the buying mood locally and want to get in before our West Australian cousins with their fat wallets, Adelaide's half dozen hot suburbs where it's tipped big money can be made are:
Down south, Christies Beach and Port Noarlunga area.
Elizabeth in the North.
Mount Barker in the hills.
Close to the city in the inner western suburb of Thebarton.
The Port Adelaide beachside suburb of Ethelton gets a tick and like Western Australia, Whyalla is white hot because of the impending mining boom.