WA’s business and property sector started 2022 feeling optimistically following strong results in 2021. WA had managed the pandemic incredibly well, our local economy had not skipped a beat, we were expectant of open boarders, interest rates were low and property prices had been restrained although on an upward trajectory since mid 2020.
By the end of the 1st quarter of 2022 this optimism was quickly replaced with uncertainty. Our premier back-flipped on opening the boarders, our reserve bank back-flipped on their promise keep interest rates low, inflation spiralled, supply chains were interrupted, building costs spiralled, developers struggled with project cost certainty and viability, businesses grappled with staff shortages and with all this, sadly a number businesses did not survive (most notably within the building and construction industry) causing flow on impacts.
And then of there is the terrifying geopolitical landscape.
But, in the face of these anxiety inducing matters, WA’s property market…
