Tiny detail on 'for sale' sign exposes frustrating trend in Perth's housing market
- Vandal glues posters to 'for sale' sign to ward off buyers
- Perth locals furious over inter-state property investors
- READ MORE: Perth resident's brutal message to outsiders moving to their city
A vandal has exposed one state's growing dislike for interstate investors after plastering a sticker to a 'for sale' sign urging only local buyers to apply.
The unknown Perth local glued two posters on the real estate sign that had been setup outside a home in Mount Lawley.
'No property hoarders... WA buyers only,' it read.
'To those looking for legitimate personal housing from outside WA, we apologize (sic) but we cannot be complicit in exacerbating our own housing crisis.'
The selling agent of the property said neither they or the homeowner approved the stickers.
Other agents have reported negative sentiments toward stereotypical 'east coast' buyers as the number of investors grows in the state.
Property investors had previously spruiked the city's housing market as full of high-potential bargains and an opportunity to make a profit.
The ensuing influx of interstate buyers helped increase Perth's property prices by 22.5 per cent in the last year - the largest jump in the country, PropTrack reports.
A Perth vandal furious with inter-state property investors has glued poster to a home's 'for sale' sign (pictured) calling for 'WA buyers only'
In April, the median house price in Perth was at $735,276 - which was considerably lower than the $1,414,229 in Sydney and $909,988 in Brisbane.
Higher prices and competition has left some Perth locals unable to keep up with some placing blame on interstate buyers using the property market as a cash cow.
Local anger has also led to real estate agents speaking out about the Perth market on social media.
Vanessa Naso, from The Agency, received backlash from locals after a post to TikTok about an east coast buyer of a home in Rockingham, south Perth.
'Oh yay, another interstate person buying a house in the struggling Perth market, how the hell are we supposed to buy a house,' a comment read.
Ms Naso told The West Australian that she and many others agents are feeling the stress of increasing anger towards property investors.
She went on to call for compassion towards investors who had most likely been priced out of their own state and are looking to get a foot on the property ladder.
However, local real estate agents have reported homeowners are instead taking action into their own hands and refusing to sell to interstate buyers.
One agent said a client recently declined an offer from a Sydneysider even though they offered $30,000 more than their competitor.
Peter Menaglio of Edison Property said a homeowner lost $8,500 on a sale by denying a Queenslander's bid in favour of a local.
'His statement was that it is hard for kids at the moment and he would rather sell to a local than an east coast investor,' he said.
Locals have been left furious after investors have snapped up high-potential bargains from them, forcing the housing market up 22.5 per cent in the last year (pictured, Perth)
Social media has recently become a hotbed for angry Perth locals pleading with Aussies not to move to the city with rental prices also skyrocketing.
One said his rent has increased by $260 a week in just a year-and-a-half and blames property investors for the total $610 he now forks out every week.
'I earn good money but house prices coupled with everyday expenses doesn't allow me to save enough to buy a home,' he wrote on Reddit.
'I have friends who have made offers but investors are out bidding them every single time (by $50,000-60,000).'
The post caught the attention of others who chimed in, many claiming it stems from a number of issues such as housing supply and immigration.
'Immigration is one issue, absolutely, but the main cause to all of this is the lack of housing supply,' one user wrote.
'Perth - and practically the entirety of Australia - don’t have enough tradespeople to build enough housing at a decent rate.'
'We have enough supply for owner occupiers, just not enough for for both them AND all the investors,' a second wrote.
