A real estate group has expanded its presence in Western Australia’s resources belt, adding a new office in the town of Derby.
The new office, opened by Crawford Property Group, a company which aims to find positively geared properties for real estate investors, mirrors growing demand for property in the town, the company said.
“House prices have increased 21 per cent over the past year and 137 per cent over the past five years, while rents have increased by an average of 26 per cent per annum over the past five years,” the company said.
Ryan Crawford, director at Crawford Property Group, said Derby has the market dynamics reminiscent of the Pilbara towns 10 years ago.
“Up until the last two years, Derby’s sales mainly comprised of older homes and new 4X2 residences,” he said. “Now we are seeing the development of units, villas and apartments.”
The new office continues the real estate company’s expansion across Australia, centering on resource towns. Its most recent property offering was in central Queensland, and also includes new offices in Perth and Brisbane.
The company expects to open offices in Sydney and Melbourne later this year.