A vandal has highlighted a state’s growing aversion to interstate investors after pasting a sticker on a “for sale” sign urging local buyers to apply only.
The unknown Perth resident pasted two posters onto the real estate sign that had been placed outside a house in Mount Lawley.
“No property grabbers allowed… WA buyers only,” it said.
‘To those seeking legitimate personal housing from outside WA, we apologise, but we cannot be complicit in exacerbating our own housing crisis.’
The property’s selling agent said neither they nor the owner approved the stickers.
Other agents have reported negative feelings toward stereotypical “East Coast” buyers as the number of investors in the state grows.
Real estate investors had already touted the city’s property market as a place filled with high-potential opportunities and profit-making opportunities.
The resulting influx of interstate buyers helped push Perth property prices up by 22.5 per cent in the past year, the biggest jump in the country, PropTrack reports.
A Perth vandal furious with out-of-state property investors has plastered a sign on a house’s “for sale” sign (pictured) asking for “WA buyers only”
In April, the median house price in Perth was $735,276, significantly lower than Sydney’s $1,414,229 and Brisbane’s $909,988.
Higher prices and competition have left some Perth residents unable to keep up, with some blaming out-of-state buyers using the property market as a money-making machine.
Local anger has also led to real estate agents speaking out about the Perth market on social media.
Vanessa Naso of The Agency received backlash from locals after a TikTok post about an east coast buyer of a home in Rockingham, south of Perth.
“Oh yeah, another out-of-state person buying a house in Perth’s failing market. How the hell are we supposed to buy a house?” one comment read.
Mrs. Naso said Western Australia that she and many other agents are feeling the strain of growing anger toward real estate investors.
He went on to call for compassion for investors who have likely been priced out of their own state and are looking to get a foothold in the real estate market.
However, local real estate agents have reported that homeowners are taking action into their own hands and refusing to sell to interstate buyers.
One agent said a client recently turned down an offer from a Sydney resident even though he had offered $30,000 more than his competitor.
Peter Menaglio of Edison Property said one homeowner lost $8,500 on a sale after rejecting an offer from a Queenslander in favour of a local.
“His statement was that things are tough for the kids right now and that he would rather sell to a local investor than an investor from the East Coast,” he said.
Local residents have been left furious after investors snapped up their potentially bargain-worthy properties, forcing the property market up 22.5 per cent in the past year (pictured, Perth)
Social media has recently become a hotbed of angry Perth residents pleading with Australians not to move to the city as rental prices also skyrocket.
One said his rent has increased by $260 a week in just a year and a half and he blames property investors for the total of $610 he now shells out each week.
“I make good money, but house prices plus daily expenses don’t allow me to save enough to buy a house,” he wrote on Reddit.
‘I have friends who have made offers, but investors always outbid them (by $50,000-$60,000).’
The post caught the attention of others who weighed in, many of whom claimed it was due to a number of issues, including housing supply and immigration.
“Immigration is a problem, no doubt, but the main cause of all this is the lack of housing supply,” wrote one user.
‘Perth – and virtually all of Australia – does not have enough skilled workers to build enough housing at a decent pace.’
“We have enough supply for owner-occupiers, but not enough for them AND all the investors,” wrote a second.
