Why now is the time to buy property in Perth

Why now is the time to buy property in Perth

Why now is the time to buy property in Perth
If you are fed up with renting or desperately need to move out of your parent’s house, you’ll be happy to hear that confidence is returning to the new land sales market in Perth.
Low interest rates, great prices on land and amazing deals from  builders means now is really the best time to build a brand new home.

What do the expert say?
In yet another positive sign for the WA economy, latest data from the Urban Development Institute of Australia WA revealed that new land sales in Perth increased for the third straight quarter in June 2018.
This is a big improvement on recent years and comes with a silver lining according to the experts, who say there are some great deals available right now, due to a flood of land stocks.
Current UDIA WA chief executive Allison Hailes says a 3.8 per cent jump in new land sales for the June quarter is a reflection of “improved consumer confidence”.  She adds that buyers are currently getting great value for money because several new land estates were launched in the past year.
 
Ms Hailes said the average price of new lots in Perth had fallen by 1.7 per cent for the June quarter (to $230,825) but she did not expect to see prices dropping much further.
 
In a nutshell, the UDIA WA thinks now is a prime time to purchase land because WA might experience moderate increases once these land stocks level out.
 
The most recent ANZ Property Council survey also shows that sentiment towards State economic growth has remained strong for three quarters in a row in WA – a positive sign after a period of ups and downs following the end of the mining boom.

Where are people buying?
According to NAB’s latest Residential Property survey (Q2 2018), Applecross, Armadale, Gosnells, Perth and Scarborough are suburbs to watch. NAB named them as the WA suburbs earmarked for above average growth during the next year.
Meanwhile, the north-western corridor remains popular with 32 per cent of all sales in greater Perth recorded in the UDIA WA data. This includes new estates in the Wanneroo and Joondalup areas.
 
With a 21 per cent market share, the north-eastern corridor (mostly within the City of Swan) recorded an average price of $236,688 for new land. And, if you’d prefer to live in the south-west corridor, including in the cities of Cockburn, Rockingham and Kwinana, the average price of new land was cheaper at $217,821.
 
House and Land Packages by Pindan Homes’ My First
My First by Pindan Homes has a great range of house and land packages in sought-after areas like Two Rocks, Wellard and Armadale. They start from an affordable $260 660, or as little as $230 a week.  
With a selection of off-the-plan single storey home designs – including narrow lot homes, rear garage and reverse living plans in contemporary styles and configurations – there is something for every first home builder.
BROWSE OUR HOUSE AND LAND PACKAGES HERE.

 
Source: Pindan Homes