Have you read reports that talk about how WA’s poor new home sales outpace the nation? If so, you might be wondering if new home ownership is the way to go for you. There are some reasons why there is an increase of people looking into buying new homes, resulting in a rise in the improved new home sales in the Perth area.
Fighting the Perth Home Rentals Shortage
There is quite a lot of talk about a Perth rental shortage. People in the area are having problems finding vacancies and this is something that is generating new home inquiries and visits into sales centres where tenants want to look at their options.
Home owners have more choices among renters because when a listing goes up, there is a large queue. This can mean higher rents and the pick of the lot, reducing the risk to the landlord. As a result, many renters are having a hard time finding the right property and WA property investors are looking into expanding their monopoly and buying new homes so that they can convert them into investment properties / rental units.
There is a growing demand for rentals in Perth and the surrounding area. Where there is a demand, there will always be someone looking for a way to supply the demand. If you have the means to buy a new home as an investment, you could benefit greatly by renting out to people who are unable to secure financing for their own home at this time.
The rental shortage does mean that more renters are biting the proverbial bullet and getting into ownership sooner than they had planned so that they don’t have to continue to pay high rents that result in someone else lining their pockets.
Choose Your Mortgage Carefully!
Because the mortgage rates are up, you want to be a discerning mortgage shopper. Rockingham, Perth, Kwinana, Cockburn, and other area buyers who want to know all of their options for a new home mortgage can talk to us and get a wide variety of options from among our mortgage experts who can help you get a list of home loan options to choose from. Whether you want to buy a new home for yourself or as a rental property investment, we’d be happy to help you review your options.