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02/05/2007
The property market on the western seaboard of Australia has been identified as ripe for investment by one industry body...
Properties in and around the Perth area in particular have been picked out by Standard Life Investments as showing signs of strong investment potential.
Following its own advice, the Investment fund has plied £1.5 billion into a select property fund in the area, Investment Week reports.
Andrew Jackson, manager of the fund, told the publication:
"The Perth property market is extremely buoyant at present due to strong economic growth in Western Australia.
"Rents there are projected to continue to grow over the next few years and we have positioned the fund to benefit accordingly".
Last month a study published by HiFX
suggested that the number of enquiries about investing in Australian property had doubled in the last year.
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