Premier Mark McGowan has this message for West Australians: buy a house now because the good times are coming back.
House price rise on cards as economy, confidence improving says WA Premier Mark McGowan.
Exactly one year after The Sunday Times heralded early signs of life for WA’s stagnant economy, the results are in — and they are conclusive.
Data released on Friday showed the State’s domestic economy expanded 1.1 per cent in 2017-18, a remarkable turnaround after plummeting 7.1 per cent in 2016-17 and four consecutive years of decline.
Mr McGowan said he had not felt more confident about WA’s economic prospects since sweeping to power early last year.
“Every day you are seeing good signs,” he said. “The confidence is back in WA. You can feel it, you can see it and certainly it is an improvement on where it was.”
Mr McGowan tipped a turnaround in the long-declining property market and a jolt to stagnant wages would follow hot on the heels of renewed business investment.
“It is actually a good time to buy (a house),” he said.
“I would encourage people. Prices are low yet economic activity is picking up and so that will inevitably be followed by (demand for) housing.”
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Published in The Sunday Times 18 November 2018