Record-low interest rates have prompted an uptick in property investment activity throughout the country. Consequently, a lot of prospective homeowners are seizing the opportunity to enter the property market. Unlike earlier predictions from some experts, new home approvals are also booming, with an all-time high last March of 19,419 or a 2.8 per cent increase from the month before.
Another factor that drives this trend, according to a Housing Industry Association representative, is the steadily growing population. This trend can be observed in key areas like Perth, where more people are emigrating and starting families whilst switching from renting to owning a home. If you’re a first-timer buyer, consider the various points that make it worthwhile to act now and buy your very own house and land in Perth.