The last 18 months have caused a roller-coaster of emotions in the housing industry; whether building or buying established there have been highs and lows for anyone trying to access the property market in Perth and Australia as a whole.
In the the midst of this, Perth has come out as the most affordable city to build a house in*. Given these findings it is a great time to focus on getting into the property market and putting your home-ownership plans into action.
Here are the quick-fire facts on Perth's current market conditions:
- The established market has a median time to sale of 18 days, which makes it difficult for first homebuyers to access this market;
- There are concerns around availability of rental properties and the quality of the current inventory;
- Perth's median house price is $595,823, about $10K under the next most affordable city which is Darwin;
The Government Building Grants administered at the beginning of the COVID-19 Pandemic saw 211% increase in new home activity according to industry bodies. At New Generation Homes, a part of Summit Homes Group we have managed our pipeline well and taken a more responsible approach with our volumes.
This aligns with our recent industry awards, the 2020 Professional Major Builder from the Housing Industry Association and 2021 Project Builder of the Year from Master Builders.
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