With the mining boom over and consumer spending down, house prices have dropped, sparking interest that now might be the perfect time to buy in Perth.
Western Australia was formerly the fastest growing state as the iron ore price boom attracted workers from interstate and overseas, increasing the housing demand.
Now as the boom slows and migration has dropped there is an abundance of homes on the market. Although prices are dropping now, some of Western Australia’s top valuers predict this fall will stabilise in the next two years.
For now it looks like first time home buyers have the opportunity get into the property market while prices are at an unusual low before they start to rise again.
If you want to make the most of the current property market and buy your first home make sure you know what you’re in for. Book a building and pest inspection today so you know the condition of the house before you buy.