Although several regions in Australia have experienced a property price spike over the June quarter, Perth is unique because it ranks as the sole major Australian capital city that actually indicated a climb during a year prior to the current period overall. In addition to this increase that began in 2011, it also enjoyed a 0.6% gain in the most recent quarter. Additionally, Darwin saw property price gains of 12.3%, making it the only other major city of Australia to see such a gain.

Rental Costs are Climbing

For the 18 months prior however, Perth properties were going through a long-term recession. Now, prices for current properties in Perth are approximately $480,000 as an average house value.

However, current trends are indicating that there may be a growth in terms of a desire for home loans. Rockingham residents and others are often faced with rising rental costs, making it more and more appealing for people to consider buying instead of continuing to rent.

Some real estate experts note that the average house rental cost has climbed more than 10% in just the last year. However, an accompanying upward trend for sales is a positive sign for mortgage brokers. Kwinana, Cockburn, and Rockingham area families could easily become persuaded to take the plunge by making a purchase for their first home, particularly if they have already been considering it for a while, and do not want to contend with growing rental costs.

With a Mortgage Broker, Consumers Feel Confident

At first, homeownership may feel like something that’s not within reach. However, families can simply choose to meet with a company that is well versed in helping with the process from start to finish. With their assistance, a goal of owning a home as opposed to sending in a rent check every month is a dream that’s not so far into the future after all.

When meeting with mortgage brokers, families get the resource of professionals who act as a go-between to interface with the lender, which is often a bank. They can also help a homebuyer get their possible loan at appealing interest rates. This allows an increase in confidence, because potential buyers feel more certain that they are making this move at the proper time, and that their investment will more than pay for itself in the end.

By making the decision to apply for home loans, Perth and the surrounding area’s residents and others can discover the satisfaction that comes from participating in home ownership and investing in their own financial future instead of continuing to rent their property.