East coast investors are interested in Peel commercial and residential properties now more than ever as the region offers value and development opportunities.
With the Halls Head shopping centre, anchored by Farmer Jacks, selling for 6.3 million to an unnamed interstate investor this continues a recent trend of east coast players looking into Peel property.
ACTON Mandurah director and licensee Graeme Baxter said there is certainly increased traffic from Sydney and Melbourne.
"It hasn't transferred to a major source of our sales at this stage but there is certainly a lot more internet traffic coming to the fore," he said.
"Particularly on the Domain site there is a very strong interest from people in Sydney and Melbourne."
I think they are viewing that we might be at the bottom of our property cycle and see a potential for growth in values and rental income.H&N Perry Real Estate sales director Frank Lawrence
This view is echoed by H&N Perry Real Estate sales director Frank Lawrence as he said there is an increased interest from interstate investors.
"There has been an increase in interest from eastern state investors but we are yet to see that transition into completed deals," he said.
"I think they are viewing that we might be at the bottom of our property cycle and see a potential for growth in values and rental income."
Victorian-based property developer, Wolfdene have jumped on the trend as the company recently acquired Austin Lakes, representing their first venture into WA.
Wolfdene WA general manager Mitch Brown said he was attracted to the Peel estate as it appeals to any demographic.
"Located between the river and ocean, Austin Lakes offers the quintessential West Australian lifestyle that appeals to an array of demographics, from first homebuyers to retirees," he said.
"It is one of the Peel region's most attractive estates due to its size, extensive amenities, attractive landscaping and established streetscapes.
"With good transport links and existing amenities including a primary school, secondary school, shops and sporting facilities, Wolfdene has a strong base to build on."
Prior to the coronavirus outbreak the Peel market was seeing its first uptake in years, this increased inquiry from east coast investors could see this continue after COVID-19 restrictions ease.