WA investors are being beaten to the punch by those from over east who are snapping up property at bargain-basement prices across Perth.

Strategic Property Group managing director Trent Fleskens says east coast investors and buyers’ agents are flooding our sub-$500,000 property market, attracted by low prices, a historically low vacancy rate, high rental returns and strong capital growth prospects.

“When the tap turns off over there, these people turn thirsty,” he told 6PR Breakfast host Gareth Parker.

Tap PLAY to hear Fleskens discuss the future of the Perth market

“These are not rich people, these are mum and dads who are coming across buying the same thing they did (over east) 10 years ago, expecting the same thing to happen.”