Anyone buying property for investment in Perth during 2010 can be assured of long term capital growth based on surging population growth over the next 35 years, according to David Hobbs, CEO of Professionals Real Estate Group.

Mr Hobbs said that population growth was a key driver in property value and the latest projections by the Department of Planning indicated that Perth was poised for significant population growth rates over the coming three decades.

"The latest projections by the Department of Planning indicate that Perth's population will double over the next 35 years from currently 1.7 million to 3.5 million. That is basically adding another city with the current population of Perth to our current population in just one generation.

"These latest population projections have been released at the same time as the Housing Industry Association (WA) predicting that Western Australia could have a housing shortfall of more than 72,000 homes in Western Australia by 2020 because not enough new homes are being constructed.

"This surging population rate and shortage of new home construction will put upward pressure on property and land value over the coming years.

"Based on these figures, the demand for both owner occupier and rental properties is set to remain strong in Perth over a long period of time.

"Property investors should consider the excellent long term returns in Western Australia rather than just short term interest rate movements and rental returns.

"In particular, younger investors aged in their twenties and thirties should focus on the long term benefits of buying property now. In thirty to forty years time when they decide to retire, the properties they purchased now could easily help fund their retirement," he said.

Mr Hobbs said that first time property investors should focus on older suburbs that where relatively close to the city centre which had homes constructed on large blocks of land.

"Land appreciates in value over the long term and homes with a large land content nearer the city have the potential to significantly increase in value over the coming decades," he said.

Mr Hobbs nominated the following 10 suburbs as offering first time investors the potential for strong capital growth:

1. Koondoola

2. Girrawheen

3. Westminster

4. Nollamara

5. Warwick

6. Mirrabooka

7. Belmont

8. Cloverdale

9. Queens Park

10. Bentley

New Professionals Kununurra office to capitalise on major investment in the area

Professionals Real Estate Group has opened a new office in Kununurra to capitalise on more than $400 million in new investment targeted at the area as part of the Ord-East Kimberley Development Plan.

The new licensee/director of Professionals Kununurra is Mandy Thorneycroft who has worked in the Kununurra real estate market for several years. Mandy will be supported by co-director Melanie Diffey and property management associate Natasha Bridson.

Mandy says that Professionals Kununurra is perfectly positioned to offer local residents a wide range of quality real estate services, at a period when the local property market was undergoing major expansion due to the State and Federal supported Ord-East Kimberley Development Plan.

"As part of this ambitious plan, $220 million will be invested to develop 8000 hectares of new agricultural land in the Weaber Plains area, with the first 22 agricultural lots expected to be released in 2011 following the construction of supporting infrastructure.

“Construction has already started on an accommodation village which will house up to 250 workers building the channels, roads and drainage infrastructure for the expansion.

"In addition, $195 million will be spent on improving housing, health, education & training in the local areas including the re-development of the Wyndham health facilities, expanding the Kununurra hospital, major upgrades to local educational and housing facilities as well as improvements to both Wyndham Port facilities and the Kununurra Airport Terminal. An addition 120 homes for social and transitional house is also planned.

"This massive new investment will economically and socially transform the East Kimberley in just a short period of time. Historically, major new infrastructure development has been a driver in the property market and the same trend is already occurring in Kununurra with a growing demand for real estate in recent months.

"In particular, there is very strong demand for new residential building lots in Kununurra which is underlined by the recent success of Stage 5 of the Lakeside Park Estate. Only 14 house and land package lots of the initial 87 lots remaining for sale. To meet the increased demand for housing, 125 smaller/medium density building lots are expected to be released at Coolibah Estate near the town centre in the coming months as well as approximately 54 residential lots earmarked for release in Stage 6 of Lakeside Park Estate later in the year," she said.

David Hobbs, CEO, Professionals Real Estate Group added that the new Kununurra office brings to a record 62 offices the company has now operating in Western Australia and The Northern Territory.

"We are delighted that Mandy, Melanie and Natasha have joined Professionals and as CEO, I have every confidence that Professionals Kununurra will become a major success in the Western Australian real estate industry over the coming years.

"The Group has now 16 offices in regional areas and we intend to increase this number during by establishing offices in local real estate markets that have the potential for strong growth such as Kununurra.

In particular, we intend to strengthen our presence in the NorthWest of the State with a view to opening new offices in Karratha and Port Hedland" he said.

Professionals Kununurra is located at 112A Coolibah Drive, Kununurra. Telephone 08 91683777 or visit www.professionalskununurra.com.au

Milestone Corporate Fundraiser, in the Pink

NATIONAL BREAST CANCER FOUNDATION (NBCF) Diamond Partners, Professionals Real Estate Group received today the Patron’s Pink Ribbon Award for Corporate Commitment which recognises outstanding commitment and dedication to breast cancer research.

Professionals also received a Pink Circle Award for reaching the fundraising level of $1,000,000 in the Group’s five years of fundraising efforts for the for the NBCF.

The official award ceremony was presented by NBCF patron Ms Sarah Murdoch and Hon Ros Kelly AO at ‘Boomerang’, Elizabeth Bay, Sydney.

CEO of Professionals Real Estate Group and NBCF Advisory Board member David Hobbs, is proud of the groups achievements in fundraising for the foundation.

“Professionals are dedicated to raise a minimum of $250,000 each year for the NBCF.”

“Funds are raised through various activities at a Group and individual office events throughout the year including a contribution per property sale.”

“Fundraising events such as the upcoming Pink Ribbon Golf Day, give corporate groups an opportunity to network while putting their sporting talents to good use.’

“This year’s Pink Ribbon Golf Day will be held on 26 March at the Joondalup Golf Course, and we are urging corporate groups from all industries to get involved and sponsor the event.”

“The NBCF is the only national not-for-profit organisation that is dedicated to supporting and promoting high quality research into the prevention, detection and treatment of breast cancer.”

For further details on how to register for the Pink Ribbon Golf Day, contact Angelique McAvoy on (08) 9370 4440.

Milestone Corporate Fundraiser, in the Pink