Recently we have seen more finance applications related to home purchases than we have for the past 2 years.
While we have been pleased with this change in the market, property data group CoreLogic have recently confirmed that the Perth’s Market is headed for more positive times.
CoreLogic in their November property update have stated;
“In a significant turn of events for the Perth market, values edged 0.4% higher in November; the first month-on-month rise is dwelling values since the down trend took a pause in early 2018. Dwelling values have been trending lower since mid-2014, down a cumulative 21.3% through the end of November.Over the past thirteen years, Perth has seen house values move from being the most expensive across the capital cities to now be the lowest; great news for first time buyers, however Perth home owners have seen a material reduction in their wealth over the past five and half years.”We are expecting to see more people look to get back to property market from first home buyers, investors through to upgraders to downsizers.
HOW PROVIDENT LENDING AND BUSINESS SOLUTIONS CAN HELP
For each of these groups as mentioned above we have the same advice.
Use a Provident Broker to research how much you can afford and get finance pre-approved before tackling a purchase.
A review to see what your purchasing power is easy and can initially be conducted over the phone.
If you are thinking of selling or buying be sure to get in touch with a Provident team member today.