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Perth Market holding strong

By Melissa Clarke | 7 August 2020

Recent world news, COVID and other world events, can leave us feeling glum, but the good news is that the Perth market is holding strong and providing fantastic opportunities for new home buyers.

Urban Development Institute of Australia WA (UDIA WA) conducts extensive surveys of the major land developers in Perth to create land market data.  Their recent surveys found Perth achieved 3,322 new lot sales during the June 2020 quarter, the highest quarterly land sales on record since the institute started recording in the 1990’s.

UDIA WA chief executive Tanya Steinbeck said that “while demand has surged, average prices for new land have remained relatively steady at $226,400. Comparative to other capital cities in Australia, Perth remains an affordable and stable option for those looking to enter the market.”

UDIA WA’s survey found there were approximately 7,500 new lots either on the market or under construction, which is good news for buyers, given there has been an influx on demand for properties.

“The good news is there is still a decent level of supply either on the market or under construction to meet continued demand.” Ms Steinbeck said.

Now is the time to buy, with Government grants available to help home buyers get into the market, with up to $69,440 available to those that qualify.  First Home Owner Grants of $10,000, the Federal Home Builder Grant of $25,000, Western Australian Building Bonus Grant of $20,000 as well as state Off-the-plan Duty Rebates.

With this kind of assistance available, why wouldn’t you consider building your dream home?

Touch base with us today to find out how we can help you take the next step towards owning your own home.

Contact Andrew Mackenzie, our friendly Estate Sales Manager on 0419 904 790 or andrew@spatialproperty.com.au or visit our website www.spatialproperty.com.au