WA deposits in “half” the time!
FIRST-HOME-BUYERS REJOICE! New figures from the BankWest ‘First Time Buyers Report 2017’ released at the beginning of this month reveal that it takes first home buyers in WA approximately half the time to save for a home deposit, compared to properties in the Eastern States.
Clearly encouraging news suggesting there has never been a more opportune moment to step onto the property ladder and buy your very first home in Perth. Especially since Perth recently was also awarded the title of Australia’s new ‘Capital of Cool’ according to a recent article from CNN Travel.
Australia’s most affordable mainland state capital
Further data sourced from the Australian Bureau of Statistics (ABS), CoreLogic’s census and property monitoring from BankWest also reveals that Perth is now the most affordable mainland state capital in Australia, taking an average of just 3.9 years for first-home buyers to save a 20% deposit for either a house or a unit – a considerable amount less time than both Southern and Eastern States.
Ref: ABC News AU
Perth is a buyer’s market
Whilst the mining boom resulted in Perth housing prices souring and remaining unaffordable and unattainable for buyers across the board, housing prices have now returned to normal levels, with new opportunities now arising for those with a more limited budget to finally have the chance to own their first home.
With Perth being the most affordable mainland state capital, despite Western Australia experiencing the lowest wage growth in the nation, we truly have transitioned into a “buyer’s market”.
More first home buyers in WA than anywhere in the country
In a recent BankWest media release on Lower prices drive WA first time buyers on to the housing ladder, it was also revealed that there are more first-time buyers as a proportion of total buyers in WA than anywhere else in the country — and according to Bankwest General Manager Personal & Small Business Banking, Donna Dalby, WA’s first time buyers are taking advantage of a number of factors at play.
Welcome to The Embankment
Further to the above data that represents nation and state-wide trends, when digging down further into the Perth property market, it can be seen that the City of Gosnells is one of the most affordable councils for first-home-buyers in the state capital. It is for this very reason that our latest project at The Embankment at Riverhaven is positioned, perfectly suited to those wanting to obtain their very first house and land package within the scenic South-Eastern suburb of Martin.
House and land packages from just $379K
With prices starting from just $379,000, The Embankment boasts both urban and rural living, being a short commute from Perth’s CBD, the picturesque Canning River and the breathtaking views of the Perth Hills.
Exclusive two, three and four-bedroom, two-bathroom house and land packages are available for future residents in search of the peaceful life, with all properties taking full advantage of the very best in smart, space saving design.
Stop renting – start owning
Why continue renting when you could own your very own piece of idyllic paradise in one of Perth’s most attractive suburbs. We welcome you to explore the options available at The Embankment.
Book a virtual tour to experience the quality of this unique, exciting and stunning property offering, coming soon to the Martin area.