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Purely Finance

(08) 9453 8888

(08) 9453 8888

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Investment Loans in Perth: How Does the Perth Property Market Look?

As prolific providers of investment loans and financial planning in Perth, we constantly monitor the market for both investment property and loans. Since the banks have complied with Australian Prudential Regulation Authority (APRA) guidelines to cap investment loans by enforcing tighter standards, there is less margin for error for investors.

We would like to present some Real Estate Institute of Western Australia (REIWA) statistics and tell you what they mean to you.

Investment Loans in Perth

For the September 2015 quarter, housing prices fell 2.7% to $15,000 in the Perth market. As of September 2015, that put the median price for a home in the Perth market at $535,000. According to Hayden Groves, Deputy Vice President of REIWA, the drop was less than he expected due to the amount of properties on the market.

According to Mr Groves, there are currently 15,000 properties on the market as compared to 12,000 during “normal” periods. Sales turnover lowered by 14% from the June 2015 quarter, but turnover actually rose in the suburbs of Armadale, Cockburn, Gosnells and Fremantle.

Currently, there are 8,311 rental properties on the market, which is approximately 50% more than the number for the previous year. The vacancy rate rose to its highest number since 1996 at 5.4%. Median rents are now at $395 per week for a unit and $420 per week for a house for an overall median rent of $410.

What This Means for Investment Loans in the Perth Market

For property investors, this looks like bad news. In reality, it’s just one of many “downs” on the occasional roller coaster ride of property investment. Those who stay the course will do just fine. But there are some important takeaways here that investors should understand.

It is now more important than ever to have a great mortgage broker and sound investment advice. The team you assemble around you can make the difference between success and failure as an investor. Right now, it is possible to find some great bargains due to investors allowing a knee-jerk reaction to force them out of the market.

To learn more or for an individual consult, call Purely Finance today: (08) 9453 8888.

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Purely Finance Pty Ltd - Australian Credit License 384337

Purely Finance is an accredited member of the Professional Lenders Association Network Australia (PLAN), a full member of the Mortgage and Finance Association of Australia (MFAA) and a full member of the Australian Financial Complaints Authority (AFCA).

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Level 1, Suite 29 133 Kewdale Road Kewdale, WA 6105

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(08) 9453 8888

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enquiry@purelyfinance.com.au

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