4 Reasons Why You Should Retire In Perth

Want to move to a different city when you retire? Perth could be the ideal city for you. While each person will consider distinct factors when looking for a place to retire, Australia’s sunniest city is likely to tick most, if not all, of your boxes. Here are four reasons you should retire in Perth. 

1. Weather

If you want to retire in a warm city where you can enjoy plenty of time under the sun, then Perth is your best bet. With an average of 8.8 hours of sunshine per day, Perth is the sunniest city in Australia. December and January are the sunniest months in Perth, with an average of 12 hours of daily sunshine.

Perth’s idyllic weather makes the city a great place to enjoy the outdoors. You can take walks around the city’s numerous parks, enjoy al-fresco dining in a wide variety of open-air restaurants, or take a swim in one of several picturesque beaches. Regardless of the type of outdoor activity you like, Perth’s warm weather is sure to embrace you.

2. Affordability

When you retire, you want to make the most of your retirement income. Affordability is a major concern for any retiree, which is why it makes a lot of sense to retire in Perth. 

According to data, Perth is currently the most affordable capital city in Australia to buy a house in. As of June 2021, figures show that Perth has the lowest median house price among Australia’s capital cities. If you want to buy a retirement home in Perth, then now is the best time to start planning.

It isn’t just housing that’s cheap in Perth. The general cost of living in Perth is also affordable, and the prices of goods and services have significantly decreased over the last few years. Furthermore, the Economist Intelligence Unit has ranked Perth as Australia’s most affordable capital city. Perth is definitely an excellent choice for anyone looking to stretch their retirement money.

3. Healthcare

When deciding on a retirement city, easy access to healthcare should be one of your top priorities. Australia’s healthcare system has always ranked as one of the world’s best, and things are no different in Perth.

If you choose to retire in Perth, you’ll have access to numerous private and public healthcare. Some of the biggest hospitals in Perth include Royal Perth Hospital, Fiona Stanley hospital, Sir Charles Gardiner Hospital, Princess Margret Children’s Hospital, and Joondalup Health Campus. Plus, numerous Private hospitals such as the Mount Hospital, St. God of Johns Murdoch, and Hollywood Hospital.

As you age, you’ll also be able to get the services of specialists when necessary. Perth also has a large network of specialists for retirees and the elderly such as cardiologists, neurologists, ophthalmologists, and physical therapists.

4. Arts, entertainment, and culture

Perth is a great city for you if you want to spend your retirement admiring paintings, sculptures, and other works of art. The city has a ton of great art museums such as the Art Gallery of Western Australia (part of the Perth Cultural Center), the Museum of Performing Arts, and Linton and Kay Galleries.

If you’re a fan of concerts and live music, Perth offers many of those events as well. The Perth Arena (RAC) has hosted world-famous artists like Elton John, Journey, Michael Bublé, Cher, Celine Dion, Mariah Carey, Fleetwood Mac, and many more.

Prefer sporting events to live music? The Perth Arena also hosts sporting events that include basketball, tennis, and even mixed martial arts.

If you’re looking for the ideal retirement home in Perth, the experts at Buying Perth Real Estate can assist you. Our experienced buyer’s agents can help you find the best deal for the retirement home you’ve always wanted. Feel free to give us a call at 08 6215 0200 or send an email to clive@buyingperthrealestate.com.

8 Ways the Border Reopening in Perth Can Affect the Property Market in 2022

On February 5, 2022, the WA border is set to reopen from a lockdown due to the global COVID-19 pandemic. This will give Perth real estate market another boost and is predicted to push prices further up. In 2021 alone, house prices in Perth increased by 13 per cent, and are expected to have another 10 per cent increase in 2022. 

Since the state has the most affordable suburbs along with other benefits, the border reopening might be your chance to move into your new home. If you’re a homebuyer, should you jump into this opportunity or wait some more? Here are some ways the border reopening can affect the property market in 2022:

1. Increase in housing prices

New arrivals from interstate and overseas migrants might increase demand for property amidst low stock levels. This growth in housing prices may be evident in the second half of the year as more companies open for recruitment and the population in Perth grows.

2. Easing border controls may result in stronger demand

When tighter border controls were implemented, it prevented WA from achieving high annual growth as seen in other states (Brisbane: 27.4 per cent, Sydney: 25.3 per cent, Canberra: 24.9 per cent). Open borders may push prices due to new arrivals and growing demand.

3. Interest rates may go up (or down) depending on the situation

Most analysts predict that the housing market will loosen up by 2023 as the Reserve Bank of Australia may increase interest rates to keep inflation at bay. 

4. Lending rules may lower house prices

In 2014 and 2017, tighter lending rules put downward pressure on house prices. In October 2021, the APRA (Australian Prudential Regulation Authority) also had tougher serviceability tests for home loans. 

While building more houses is the most obvious way to lower housing prices, this is not applicable due to labour shortage and a 30 per cent increase in construction costs.

5. Price gains in western suburbs and riverside areas

The western suburbs and riverside areas have also increased in terms of prices. However, local employment opportunities in the area continue to have a strong demand. As long as employment demand and lifestyle remain a driving factor to choosing a location, the outer suburbs will remain appealing to people. 

6. WA is still affordable 

Despite the increase in prices, WA remains an affordable state in the nation. Perth has the second-lowest median house value ($520,000) just behind Darwin ($498,168). Compared to the capital city, Perth had a median value six times higher than household incomes.

7. Increased rental demand

For those moving into a new area, the first thing that comes to mind is renting a property due to affordability and lifestyle concerns. As the borders reopen, demand for rentals will increase to accommodate people.

  1. People want to upgrade their homes (and may even be willing to pay a premium)

The effects of COVID-19 have changed our way of life, especially in terms of living arrangements and environment. Some are willing to pay more to achieve their wants and needs. This includes recognizing the value of a bigger and better neighbourhood, proximity to lifestyle places, and open spaces where we can be involved with socialisation activities. 

As the border reopens, don’t close opportunities to buy a home

Perth has always been one of the most affordable states in WA. With its proximity to the centre and other destinations, buying a house in this location is your best bet.

Take advantage of the border reopening. For expert advice, get a free consultation from the buyer’s agents at Buying Perth Real Estate. Contact Clive at clive@buyingperthrealestate.com or give us a call at (08) 6215 0200 or 0412 926 190.

Buyer’s Market vs Seller’s Market

If you are planning to purchase a house, it’s important to know the right timing to enter the market to avoid being left behind. There are two types of markets you have to know about: the buyer’s market, which caters to people who want to buy a home, and the seller’s market, which is perfect for people who are ready to sell their home.

Find out the differences between buyer’s market and seller’s market as well as some strategies to help you negotiate and land a good deal.

Buyer’s market

A buyer’s market occurs when a real estate supply exceeds the number of buyers. This is the perfect time for homebuyers to enter the market due to decreased prices and more houses on sale. As there are a lot of options, both buyers and sellers can negotiate for other prices and offers to maximize the market and close a deal.

How to Know if it’s A Buyer’s Market

  • Lots of houses are on sale in the market
  • Houses are sold slowly and below the list price
  • Prices continue to drop

Home Buying Tips in a Buyer’s Market

  1. Negotiate an offer that’s less than the asking price, due to the decreasing prices asking for a discount is commonly done
  2. Ask the seller for other concessions (closing costs, closing date flexibility, inclusions of appliances and furniture, repairs and renovation)
  3. Know your options and compare deals, it’s your market as a homebuyer so you have to take your time selecting the best offer

Seller’s market

A seller’s market happens when the real estate inventory is low and the amount of homebuyers is high. This is the right time for sellers to come in since homes sell faster and many buyers are interested and willing to spend more. In this market, lots of bidding wars (multiple buyers competing for the same property) occur since there is a shortage of housing. 

How to know if it’s a seller’s market

  • Homes sell fast, leading to fewer options in the market
  • Houses are sold above the list price
  • Prices continue to rise

Home buying tips in a seller’s market

  1. Brace yourself for bidding wars by deciding on a price limit based on what you can afford
  2. Prepare your good offers (getting pre-approved for a mortgage, strong finances, etc.)
  3. Act fast so you can buy your dream house before anyone else, too much waiting can let a good deal slip so you have to grab it before it’s gone

Take advantage of the right market

Knowing when to enter the market depending on your needs is crucial to a good deal. A buyer’s market and seller’s market are all about the supply and demand of homebuyers and properties, so as a home buyer, you have to get ahead by analyzing these changes before diving in. 

Are you ready for the buyer’s market?

Let us help you find the right timing to enter the real estate market. Get a free consultation from the buyer’s agents at Buying Perth Real Estate. Contact Clive at clive@buyingperthrealestate.com or give us a call at (08) 6215 0200 or 0412 926 190.

Why Perth is the Ideal Place to Start A Family

Perth has always been on top of the list of Australian cities that are best to live in. With its tropical climate and relaxed atmosphere, many tourists fall in love with Perth each year. But these aren’t the only reasons why people move to Perth. 

This coastal city in Western Australia is also family-friendly – an ideal place to raise young children and teens. In Perth, you can find peaceful neighborhoods, a quality education system, good healthcare facilities, and endless outdoor activities. In this blog post, let’s look at all the reasons Perth is the ideal place to start a family.

1. Safety and security

Perth is considered as one of the safest cities in Australia boasting low crime rates. According to studies, 72% of Perth residents consider safety their top priority when they chose a place to live. And while there are safer neighborhoods in Perth to live in than others, you’ll generally feel safer and more secure to start a family in Perth than in other capital cities in Australia.

2. Quality education system

You don’t have to worry about the quality of education your children will receive when living in Perth as some of the top-ranking primary and secondary schools are located here. There are also notable universities located in Perth such as the University of Western Australia and Curtin University, Edith Cowan, Murdoch university, Curtin University  and Notre Dame.

3. Competitive salaries

Perth might not be the most affordable place to live, but the salaries are very competitive albeit being more relaxed in atmosphere. Over the years, Perth has become a thriving hub for the tech industry. A number of entrepreneurs and innovative startups continue to grow.

There are also many available jobs in different industries in Perth and you won’t find it difficult to join the workforce. You can find jobs in education, retail, manufacturing, agriculture, mining, and so much more.

4. Superb healthcare

In Perth, we value health. Perth offers free treatments in public hospitals, subsidized healthcare services, and modern medical facilities for residents. There are many healthcare workers who are experts in their respective fields and you won’t have to worry about treatments as most are available in Perth.

5. Diverse neighborhoods

You can choose where to live in Perth depending on your lifestyle. Fremantle has a busy seaport and offers historical buildings that people love to eat and shop in during weekends. Meanwhile, Cottesloe is an affluent area that offers beautiful beaches and exciting watersports. If you would like to live somewhere modern, you can consider living near the city center or in East Perth.

Perth is a melting pot of different cultures.  There is a wide rage of neighborhoods catering for all classes and cultures.throughout Perth 

6. Fun outdoor and recreational activities

Your whole family will surely have fun if you love the great outdoors! Perth boasts the most magnificent parks, play areas, cycling tracks, lakes, and of course, beautiful beaches. Aside from these, you’ll also love all the sports activities that you can learn in Perth – whether that be land or water activities. 

You’ll never run out of things to do in Perth – whether that be swimming, cycling, or hiking. Just within two hours from the city are national parks that boast great wildlife and mesmerizing views.

Starting a family in Perth might seem like a big decision, but it’s a decision that you won’t regret. Whether you are coming from a different Australian city or a different country altogether, Perth will surely welcome you with open arms.

Are you interested in looking for a property in Perth? The experienced buyer’s agents of Buying Perth Real Estate can help you. Get a free consultation when you contact Clive at (08) 6215 0200 or 0412 926 190.

Is 2022 the Perfect Time to Buy a House?

As the world continues to shift, so do housing market trends. The real estate trends are shaped by different factors depending on the situation every year. If you’ve been wondering if waiting until 2022 is the perfect time to buy a house or just take advantage of the current low rates, read these predictions as well as some tips to help you prepare as you navigate the market.

Property Market 2022 Predictions

1. Rise of commercial spaces

As lots of companies continue to shift to hybrid/remote work due to the effects of the pandemic, the need for smaller office spaces is in high demand. Fulfillment centre spaces for e-commerce have also been increasing for small and big retailers to service their consumers. Multifamily units, both newly built and renovated, have also become popular for families and the working class on a mortgage or rental basis.

2. Technology continues to play a role in the buying process

The current generation of home buyers entering the property market makes use of technology to assess their choices, review, and research on suburbs, and communicate with agents. Being visible online and social media is the best way to buy or sell a house and connect with a tech-savvy generation.

3. Competition remains fierce, but it’s slowly calming down

Due to the pandemic, housing inventory has become limited with sellers withdrawing their listing. Due to the limitations, prices have soared and bidding wars became aggressive, which may intimidate first-time home buyers. However, as of August 2021, the bidding wars are beginning to drop, making the market a bit easier to break into for all kinds of home buyers for the months to come.

4. Welcoming suburban living

From urban living to suburban living, lots of home buyers have been slowly considering the charm of peace and quiet the suburbs bring from the hustle and bustle of city living. As lots of companies switch to long-term remote work, people can now choose to live outside the centre at a much more affordable price and just commute when necessary. This shift to living the suburban dream leads to lower prices for both suburban and urban housing units.

homebuyer tips

4 Tips for Home Buyers in 2022

1. Prepare for mortgage requirements

Housing markets are competitive and homebuyers must stay on top of the requirements and changes, especially when applying for a loan. Depending on the mortgage type, improving credit score, settling debts, and having a stable or increased income are a must for starters.

2. Maximize online resources and technology

Utilize virtual tours and appointments to save time and effort while researching neighbourhoods and houses. Social media has also made it possible to easily connect home buyers and sellers, making it easy to compare offers and avoid getting trapped between bidding wars.

3. Prepare a budget for housing and other expenses

Upon shortlisting neighbourhoods and houses to choose from, setting a budget is the next step. Have a budget for housing expenses to be used for maintaining or improving roofing, HVAC systems, and design (i.e. heating, ventilation, and air). Don’t forget to also have a budget for personal expenses, such as family needs and health concerns. After having a budget for housing and personal needs, make room for property taxes and homeowner’s insurance. 

4. Save beyond the expected costs

When it comes to buying a house, savings are the first to be easily depleted. It’s important to save beyond the expected costs and the down payment so you can be financially secure even when the unexpected happens. After setting a budget, make sure to have a healthy amount of savings enough to cover at least six months of bills and essentials.

Make 2022 the Year to Welcome Your New Home

It’s never too late to buy your dream home. With these predictions and tips, let 2022 be the year you achieve your goals as a home buyer. 

For more assistance, get a free consultation from the buyer’s agents at Buying Perth Real Estate. These experts have vast experience in real estate and they can definitely help you find the best property options. Contact Clive at clive@buyingperthrealestate.com or give us a call at (08) 6215 0200 or 0412 926 190.