Back In The Swing Of Things - Perth Property Market On The Upswing
After a long time of doom and gloom it seems that people in the Perth property market finally have a reason to smile again. Not only are rents stable and property values starting to increase, confidence is also creeping back into the market and people are starting to build 3 & 4 bedroom houses again at an ever-increasing rate. Both the Real Estate Institute of WA and the Housing Industry Association predict that the recent rise in residential building experienced across the city is here to stay. Far from a fluke, it turns out that there are some very solid reasons for this.
Believe it or not, Perth is now the most affordable state capital to build in. After years of ridiculous mining boom inflation such a statement seems crazy, but it’s true! Increased competition and reduced demand during the post-boom slump have lead to great offers from builders and developers. With the opportunity to get a great product at a great price, more and more people are taking the plunge and building.
According to Landcorp acting chief executive Dean Munford
"Low interest rates, combined with realistically priced new and established housing, have lifted market confidence, especially among first-home buyers.
Buyers are seeing an opportunity to get a foot on the property ladder as values start to climb, albeit slowly, and the development industry works harder to offer value for money in what has become a very competitive environment."
In addition to this, builders are also becoming more nimble in the face of changing demand and increasingly smaller block sizes. House and land packages are now offering a suite of choices that hit the mark in terms of affordability and function in a progressively diverse market. Meanwhile, home designs are again available in a wider range of options, from cosy two bedroom cottages to sprawling four bedroom family homes.
With confidence up, conditions set to improve and prices likely to rise, now is the perfect time to build and take advantage of these ideal conditions. If you’re a first home buyer then we have a number of different offers and tools that you can take advantage of.
So whether you’re a first time buyer looking to break into the market or an investor looking to make the absolute most of very favourable conditions, we can help you take advantage of these fantastic conditions and build yourself an amazing home. Call us today to find out more about what we can offer you!
Posted by First Home Buyers Direct on 11 April 2018 | 0 comments
Back To Blog Entries