Perth, WA — While housing prices remain strong across Australia, regional and local prices vary significantly. Buyers need not fret that prices are too high as RP Data’s research director Tim Lawless notes that in their latest Spring Buyers Guide that deals are still to be had in today’s marketplace:
“The national housing market is broadly showing home values to be moving higher, but it’s important to remember that not all cities and regions are recording strong value growth and most capital cities remain lower in value now compared with their previous peaks.”
“Housing markets can vary substantially in value and performance from state to state, city to city, suburb to suburb and even from street to street, as well as by housing type.”
It’s beneficial for buyers to not only be familiar with the general housing trends in their area, but to do further research into specific neighbourhoods they are interested in.
Where to Buy
Location is possibly the most important factor in any property purchase. Home buyers should first make a budget based on their financial status. That budget then determines what suburbs they can afford.
Picking a neighbourhood with potential for growth is part art, part science. A good neighbourhood needs to have enough amenities and current infrastructure to satisfy current lifestyle needs. On the other hand, a completely mature neighbourhood can be saturated to the point where there’s no room to grow.
Lower priced suburbs just outside the current hot spots can be ideal as they’re affordable now but will generally increase in value over time as Perth expands outwards.
When to Buy
“Buy low, sell high” is the traditional mantra for any investment. When it comes to property however, besides a good price on a house, interest rates and financial status will also factor into when the best time is to buy a home.
Currently, unemployment is low, and interest rates are at a historic 2.5%. For Australians who have their finances straight, now or the near future is a very attractive time to enter the Perth housing market. Certain suburbs are priced high but even in the Perth metro region there are still plenty of deals to be had.
One of the best ways to get a good return on property is to build. Building a home is not only the dream for many Australians but it allows them to get property at today’s prices and watch it grow in value over time. Financial incentives in Western Australia such as Stamp Duty concessions and the First Home Owners Grant (FHOG) also make building more attractive than buying established.
Using a project builder helps guarantee a positive outcome, as project builders have a great deal of experience in their home designs. Not all project builders are created equal however, and buyers will do well to shop around and do some research. The best builders have plenty of experience and references. A variety of designs is ideal as well, allowing buyers to choose designs closer to their ideal.
About Aveling Homes
Aveling Homes is an award winning home builder based in Perth dedicated to providing exceptional service. Find out more about our display homes and our house and land packages by contacting one of our representatives today.
Visit the Aveling Homes website at http://avelinghomes.com.au for more details about our services and available financing options for first time home buyers.
Aveling Homes Contact Information
24/7 Metro Sales: (08) 6144 1000
24/7 Sth West Sales: 6144 1001