Research

39 Perth suburbs poised to benefit most from new first home buyer savers scheme

By Sasha Karen

Nearly 40 PerthPerth, TAS Perth, WA suburbs at or under $400,000 have been stated by one real estate group to benefit the most from the new first home savers scheme first outlined in the federal budget.

According to Peter Peard, CEO of the Peard Real Estate Group, the scheme will allow first home buyers to sacrifice up to $15,000 a year of their superannuation fund to save for up to $30,000 for a home deposit.

Mr Peard said, particularly in Perth, the scheme offers first home buyers the opportunity to save quickly.

“Perth is now one of the most affordable real estate markets in Australia and this scheme will make it much easier for first home buyers to enter the established property market,” Mr Peard said.

“It will have its greatest impact on suburbs where the median house price is $400,000 or less because the deposit required to buy a home in these lower priced suburbs is much smaller than more expensive suburbs [in] Perth.

“Buyers in these lower priced suburbs can now quickly save for a home deposit and enter the property market at a much faster rate.”

Data from Peard Real Estate Group indicates there are 39 suburbs in Perth with a median house price of $400,000 or less, which includes Two Rocks in northern Perth at $360,000, Midland in eastern Perth at $369,500 and Warnbro in southern Perth at $336,000.

“These wide range of very competitively priced suburbs in Perth are in contrast to Sydney, where around half of all suburbs have a median house price of at least $1 million,” Mr Peard said.

“First home buyers in Perth, who can quickly utilise this scheme to enter the property market, stand to achieve strong capital gains moving forward when the local property market rebounds.”

Mr Peard also added that the suburbs most likely to achieve these strong capital gains are those that are close to lifestyle attractions, such as beaches and social infrastructure like schools, shops and public transport.

“A good example is the northern coastal suburb of MerriwaMerriwa, WA Merriwa, NSW which has a median house price of just [$350,000] and where established homes can now be purchased for below replacement costs,” Mr Peard explained.

“These very affordable suburbs will be the first to rebound in Perth when confidence returns to the Perth property market which makes them excellent buying for first home buyers.

“The flip side of this first home buyer savings scheme is that it will encourage more first home buyers to leave the rental market and move into home ownership.”

The 39 affordable suburbs in Perth, according to the Peard Real Estate Group, are:

Suburb Median house price
Medina $250,000
Parmelia $290,000
ArmadaleArmadale, WA Armadale, VIC $290,000
Camillo $296,000
Leda $300,000
Calista $300,500
Hillman $303,500
Cooloongup $310,000
Brookdale $310,000
Koongamia $313,000
Orelia $319,100
Stratton $333,000
Lockridge $335,000
Warnbro $336,000
Wooroloo $336,250
Gosnells $346,500
Merriwa $350,000
Middle Swan $350,000
Kelmscott $355,000
Kenwick $359,000
Two Rocks $360,000
Kwinana (Town) $362,000
Balga $365,000
Maddington $365,000
Forrestdale $367,500
Midland $369,500
Bullsbrook $370,000
Hilbert $375,000
Koondoola $377,000
Waikiki $385,000
Bellevue $385,000
Midvale $387,500
Langford $390,000
Banksia Grove $390,000
Beechboro $390,000
Ridgewood $397,000
Bertram $399,500
Rockingham $400,000
Herne HillHerne Hill, WA Herne Hill, VIC $400,000


 

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  ["title"]=>
  string(90) "INVESTING INSIGHTS WITH RIGHT PROPERTY GROUP: The investment strategies that actually work"
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  ["introtext"]=>
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Welcome to the second series of Investing Insights with Right Property Group. Join Right Property Group directors Steve Waters and Victor Kumar as they explore and challenge the strategies, tactics and techniques to create wealth through property investing.

" ["fulltext"]=> string(6841) "

Every month, Steve and Victor join co-host Phillip Tarrant from Smart Property Investment to address the burning issues impacting investors, covering key topics such as manufacturing equity, property management, purchasing units versus houses, researching the market, finding under market value properties, the habits and attitudes of successful investors and portfolio building.

In this episode of Investing Insights with Right Property Group, Steve and Victor discuss the numerous property investment strategies taking an in-depth look of two of the most common ones.

They will share the strategies which they have implemented and seen the most success from, look at why they work, and discuss why some strategies are dangerous and should in their opinion be avoided.

Steve and Victor also discuss blue chip properties and their mindset surrounding these as investments, how infrastructure impacts property prices and how to make that work to your advantage.  They will also unpack whether now is still a good time to invest in the property market.

Tune in now for the full episode.

CONNECT WITH RIGHT PROPERTY GROUP

If you have any questions or would like more details on any of the information discussed on the podcast contact Right Property Group on [email protected], visit www.rightpropertygroup.com.au or call 1300 302 166.

We'll be covering all your questions in a coming episode of Investing Insights with Right Property Group, so ensure you get in touch.

If you''re new to this podcast, check out series one on www.smartpropertyinvestment.com.au/podcasts/right-property-group.

FOLLOW RIGHT PROPERTY GROUP

Keep connected with the team and all the latest news and activities. You can follow Right Property Group on Twitter or Facebook.

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Did you like this episode? Show your support by rating us on iTunes and by liking and following Right Property Group and Smart Property Investment on social media: Facebook, Twitter and LinkedIn. If you have any questions about what you heard today or any topics of interest you have in mind, feel free to email [email protected] or [email protected] for more.

 

Previous episodes of Investing Insights:

Breaking down the investment process
Why renovation may not help your valuation
The positives and negatives of diversification
Rent correction, fixed interest rates and buyer’s agents
One of the key mistakes people make
The secrets to good cash flow management
The science behind researching a new market
Keeping a finder on the pulse of your portfolio
How do we pay off the portfolio debt: what's the endgame?
Mastering the fine art of manufacturing equity
Do you have a plan? Advisers’ tips on future-proofing your investment portfolio

The cost of money – can you service your debt?

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INVESTING INSIGHTS WITH RIGHT PROPERTY GROUP: The investment strategies that actually work
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Purchasing their first property 15 years ago with the intention of creating a property portfolio which would see them comfortably supported during their retirement, Max and Jeanette Schudeboom now have a portfolio of 13 properties.

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Max and Jeanette joins  host Phil Tarrant to discuss their property journey, compare the Australian market to Max’s home town of Holland, and share their plans to maintain the size of their portfolio.

The pair also unpack how they manage and finance their portfolio, discuss the process they go through when choosing where to invest, and share the tips learned from 15 years as property investors.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

Two components of good investment research
How this investor diversified her property portfolio
Should rentvestors eventually buy a principal place of residence?

AREAS MENTIONED:

Castle Hill
Point Cook
Elizabeth East
Huntfield Heights
Mt Warren Park
Albury
Cambridge Park
Penrith
Braemar
Morayfield
Melbourne
Mill Park
Edens Landing

 

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What 15 years in property investment teaches you
object(stdClass)#1210 (52) {
  ["id"]=>
  string(5) "18177"
  ["title"]=>
  string(51) "Boost for investors as app sets up off-site bidding"
  ["alias"]=>
  string(55) "boost-for-investors-as-new-app-sets-up-off-site-bidding"
  ["introtext"]=>
  string(144) "

Property investors are now able to identify and bid on auctions remotely using a new live-streaming functionality launched by Gavl.

" ["fulltext"]=> string(1540) "

Called “Request an Auction”, the new functionality enables users to watch and bid on any Sydney or Melbourne auction remotely.

Through Gavl, prospective buyers are now able to register to bid on their preferred auction. The platform will obtain permission from the listing agent and confirm within 48 hours.

Vendors can also request to have their auctions broadcast to a larger buyer audience.

Co-founder Joel Smith said that auctions streamed on Gavl attract 47 per cent more viewers than traditional ones.

He said that Request an Auction will be valuable for remote buyers.

“Buyers are able to have Gavl attend any auction they nominate, so they will never have to miss out on an opportunity due to logistical complications in physically attending the auction.

“Vendors, too, have the opportunity to directly book an auction with us, so they can open up their event to buyers all around the world. With more potential buyers, they’re giving their property the chance to receive more bids and maximise their sales result.”

Mr Smith said that prior to the Request an Auction app, buyers were limited to what they could achieve through the Gavl technology.

Gavl is a live-streaming and bidding platform for real estate auctions.

Mr Smith said that it has streamed more than 6,000 auctions, which have achieved 3.5 million views from 50 countries.

Gavl’s Request an Auction function is currently being offered in Melbourne and Sydney only.

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Boost for investors as app sets up off-site bidding

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