The West

Millionaire tips Perth housing boom
Boom again: Millionaire tips housing boom. Picture: Supplied

Perth house prices could jump 15 per cent this year, says one of Queensland's richest men.

Kevin Young, whose wealth has been estimated at more than $100 million, has tipped two years of double-digit growth in some areas - 15 per cent this year and 22 per cent next year.

Such growth would easily see prices eclipse those at the height of the property boom.

"It is supply and demand," Mr Young said. "You've got an increase of migration coming into WA and Perth. You haven't had the increase in supply.

"It's been six years and we've been watching the Perth market. Perth is now one of our top property picks in Australia for 2013."

Mr Young's investment group, The Property Club, advised members in 2006 to get out of Perth property.

At the weekend, Mr Young took 150 members on a bus tour of Perth real estate, signalling a return to the market.

Perth house prices rose between 2.3 per cent and 6.1 per cent last year, according to figures from the Real Estate Institute of WA and research groups Australian Property Monitors and RP Data.

The West Australian

Latest News From The West

Popular videos

Follow Us

More from The West