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First time buyer market strengthens in Perth

On Oct 17 2012
Tagged as:
  • WA

First time buyers looking to break into the Perth real estate market may be interested in a ...

First time buyers looking to break into the Perth real estate market may be interested in a residential property development being fast-tracked in the Western Australia capital.

Satterley Property Group told News Limited that up to 400 homes would be released ahead of time in order to meet growing demand and provide more housing options for first time buyers, as well as those looking to upgrade their properties.

Satterley chief executive Nigel Satterley said a resurgence of first home buyers in the market was driving up demand, putting pressure on the city's real estate sector.

House hunters looking for a property purchase in Perth may be interested in the new housing developments which are already under construction in Brighton, Evermore Heights, Honeywood, Beaumaris Beach and Heron Park estates.

"The first home buyer is back in the market, and at our master-planned estates, close to schools, close to transport, close to shops and with great access to family parks and the great outdoors, we need to get new stock on the market," Mr Satterley explained.

With increasing demand in the Perth housing market, property investors may be interested in snapping real estate in the region, with increasing demand likely to return high yields for owners.

Figures released by the Real Estate Institute of Western Australia showed that the average rental price for a house in Perth is $450, while units, apartments and villas command $430 in weekly rent.

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