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Latest Canstar News
Dec 6, 2022
Perth has been named as one of the top places to invest in property in a national report, with a much-maligned Armadale among the list of 10 local suburbs tipped to shine in 2023. Canstar’s Rising Stars report cites Armadale — last year voted Perth’s worst town in a separate poll — among the suburbs set to outperform Perth’s property market next year. Comedian Russell Brand once famously joked Armadale was only worth visiting for the express purpose of buying meth, but Canstar said a recent and significant jump in buyer interest indicates many have already discovered its true value. Perth came in third on a list of 14 zones around Australia predicted to show growth in 2023 — behind Adelaide and Brisbane. The report said Perth had the cheapest median of all capital cities, a strong underlying economy and a significant program of new infrastructure works — such as the $2 billion Forrestfield-Perth Airport rail link — underpinning a steady jobs market. The report said 60 per cent of Perth suburbs had rising sales activity, putting it second on the national list for the metric — up from 6th in 2022. “All this has given Perth a high overall rating — it ranks third among the 14 market jurisdictions, up from seventh in our report last year,” Canstar said. Independent property commentator Gavin Hegney argued Perth property had more price potential in 2023 than Adelaide and Brisbane. “In a normal market, Perth property is worth more than Adelaide, and we have not returned to this norm yet,” he said. “Brisbane has already had its run, with a lot of people moving there from Sydney and Melbourne, and it is well-placed in the national property hierarchy.”
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Canstar's headquarters is located at Level 21 143, Brisbane.
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Competitors of Canstar include GoBear.
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