Perth property price falls a major boon for first time buyers: PRDnationwide

Perth property price falls a major boon for first time buyers: PRDnationwide
Perth property price falls a major boon for first time buyers: PRDnationwide

The Perth property market remains generally subdued in 2016 with median house prices softening by 4.4 percent compared to the corresponding quarter in 2015, according to the latest report from PRDnationwide.

According to its report, Perth Property Hotspots Second Half of 2016, this situation has, however, provided first home buyers with attractive opportunities to enter the market, which has resulted in Western Australia recording the highest proportion of first home buyers in Australia.

Although the Perth’s rental market is at its lowest in 12 months, it provides tenants with affordable housing options.

A flow-on effect from the recent strengthening of coal prices to other areas of the resources sector would help create some renewed impetus to the Perth property market.

“The Perth property market has seen some positive signs in a few select suburbs despite a general weakening during 2016,” said Tony Brasier, PRDnationwide managing director.

“For the positive momentum to be maintained and to expand into the wider Perth marketplace renewed confidence and growth in the mining and resources sector and broader economy is needed.”

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Perth property price falls a major boon for first time buyers: PRDnationwide

Perth property price falls a major boon for first time buyers: PRDnationwide

 

Perth property price falls a major boon for first time buyers: PRDnationwide

A four bedroom house at 36 Brooking Street, South Guildford (above) has been sold for $560,000.

Similarly a four bedroom house at 7 Seaton Court, South Guildford (below) has been sold for $575,000.

Perth property price falls a major boon for first time buyers: PRDnationwide

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Perth First Home Buyers

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