The strong economic performance of Western Australia through the COVID-19 pandemic has become headlines across the country.
Since the beginning of the pandemic, WA’s economy has grown by 5.7 percent, making it one of the strongest in the world, boasting record low unemployment, a fast-growing export market and a thriving real estate market.
Satterley Property Group CEO Nigel Satterley predicts that demand for real estate will continue to grow steadily over the next 12 months.
“With the opening of our borders, Perth can expect an increase in the number of migrants from interstate and international countries moving in search of a better lifestyle,” he said.
“There is currently a shortage of housing in Perth, and an increase in population will lead to a further increase in the cost of housing by at least seven percent and land by about five percent.”
In the first three months of 2022, the average housing price in Perth increased by 1.5 percent, bringing it to $ 622,000, which is still well below the Sydney average of $ 1.59 million.
“Even with the recent rise in house prices, Perth still provides exceptional value and remains the most affordable city in the country,” Mr Sutterley said.
Early homebuyers recognize the benefits of getting up the real estate ladder, and data from the Australian Bureau of Statistics in February show that first home buyers accounted for more than 30 per cent of new housing loans in the WA.
“WA has the largest number of first home buyers in the country,” Mr Sutterley said. “Our affordable homes, government incentives and access to the excellent Keystart initiative and other low-deposit housing loans make it easier than ever for first home buyers to avoid rising rental costs and get into their own home.
“Incentive grants from the state and the federal government to build housing have created unprecedented demand in the housing industry, and home buyers are spoiled for choice of location and amenities in developing countries.”
According to Mr Sutterley, his Clementine Estate building in the historic Upper Swan region is proving to be a popular choice for a number of buyers due to the wide variety of plot sizes and accommodation options.
“Clementine attracts the first buyers of housing with its rural charm, picturesque surroundings and friendly community,” he said.
“Clementine’s new coastal park and playground is a great place for young families, and the natural Ellen Brook, which runs through the area, is a major attraction for those who are modernizing, looking for the freedom to explore what can offer this region. “
Many of Perth’s northern and southern growing communities are benefiting from record levels of state government infrastructure spending.
One of Satellite’s latest developments – Seaside in Madora Bay – will benefit from additional vehicles: Metronet’s Lakelands Station and the modern Madora Bay Primary School, which are due to open in 2023.
Madora Bay is one of the fastest growing areas of Perth, offering an idyllic beach lifestyle with access to 1 km of pristine beach, established schools, parks, shops and amenities.
The Mitchell, Washington Highway Expansion Project is also underway to service the ever-growing northern corridor.
This includes three new interchanges, including the Butler Boulevard interchange, designed to improve access to the Eden Beach Estate in Sutterley, Jindal and the nearby Brighton Business Park.
According to Mr. Sutterley, Eden Beach Estate captures some of the best of what the WA has to offer.
“Eden Beach residents can enjoy the pristine coastline, family parks and playgrounds, as well as the award-winning local restaurant The Beach House on the doorstep,” he said.
Residents of Eden Beach, considered one of Perth’s most sought-after coastal communities, can also enjoy access to a variety of amenities, including a new ocean view of the estate and coastal paths through the preserved coastal area.
Land is available at Eden Beach Estate in Jindali from $ 299,000, Clementine Estate in Upper Swan from $ 198,000 and Seaside in Madora Bay from $ 167,000.
Sutherley is an award-winning residential developer who seeks to unite neighbors and create a place that people proudly call home.
https://thewest.com.au/lifestyle/real-estate/wa-homebuyers-spoilt-for-choice-in-location-and-amenities-at-emerging-communities-c-6789342
