Recent property reports show Western Australia’s housing affordability has improved in 2015, particularly when compared to the same time last year.
For the first quarter of 2015 Perth’s median house price sat at around $547,000. While throughout Australia the proportion of median family income necessary to meet average loan repayments was 30.8 per cent, for Western Australia residents this was down to 25.7 per cent.
While the number of first home buyers throughout Australia is decreasing, Western Australia boasts the highest proportion of first home buyers on the state’s owner occupier market at 20.4 per cent.
So if you’re looking for a new home in Perth North you’re not only in a great region of a great city, but you’re also in the right state to enter the property market as a first home buyer.
Make sure your first home is worth buying and have an experienced, local inspector perform a complete building and pest inspection before you buy.