With interest rates at a 60-year low in Australia, it’s never been a better time to buy property in Perth.
The art of real estate lies largely in the timing.
With low interest rates, considerable value to be gained from developer incentives, and a steady supply of new and sustainable apartments coming onto the market, plenty of signs point to the fact that now is a great time to buy.
Perth has been crying out for more affordable and accessible housing options; so if you’re looking to change scenery into an exciting and connected urban lifestyle, this news may be just the nudge you need. Timing is also good for those investing long term in sustainable city apartments or a home away from home.
When the Reserve Bank met for the first time this year, long-awaited cuts to official interest rates were announced following 17 stagnant months. The 0.25 percent reduction now sees interest rates sitting at just 2.25 percent – a 60 year low – further enhancing favourable housing market conditions.
Using interest rates to your advantage when buying property can have a significant impact on loan repayments over time. The more you reduce your loan while interest rates are low, the less compound interest your loan will attract – and the better shape your finances will be in for the long run.
It’s no secret Western Australia’s housing industry is booming. Everywhere you look, cranes have transformed the city skyline. As part of this boom, urban apartments are popping up all over Perth.
Investing now – before demand exceeds supply – will help buyers secure the very best deal, also giving you choices you won’t have once apartment stock is snapped up.
Whether you’re looking for city views, sustainability credentials, or proximity to some of Perth’s best cultural, sporting, retail and culinary offerings, buying early will give you the pick of the bunch.
With Perth’s current boom in city apartments, many developers are offering additional incentives to buyers looking to purchase off plan.
If you’ve been considering securing an urban apartment, it pays to shop around to know you’re getting the right apartment and best value extras to suit your individual lifestyle needs. And act quickly, as these deals won’t be around forever.
As Warren Buffet says: “price is what you pay, value is what you get”. The same statement is most certainly true of investing in Perth urban apartment living, where the benefits go far beyond the price tag.
It’s a fact that Perth residents living and working in or near the city experience considerably lower transportation costs than those living in Perth’s suburban outskirts. There’s also access to a broader range of sustainable and alternative transport options in the city, reducing the congestion on our roads and the environmental impact of daily commuting.
Other cost benefits can be found in quality energy- and water-saving appliances fitted in all Psaros apartments, reducing resource consumption – along with your bills. Many Psaros apartments use solar energy, have solar hot water systems, and even come with energy monitoring devices so residents can see just how much electricity they’re actually using.
To find an affordable urban lifestyle to meet your needs, contact Psaros or visit our lifestyle centre today.Share on Twitter Share on Facebook