Finding a Home in Perth

 In Blog

Murray BredeThere are many reasons to love living in Perth, Australia. Perth offers a wide range of beautiful properties that line its pristine beaches, which offer scenic views of the Indian Ocean. The Swan River creates the perfect setting for stunning riverfront properties while numerous parks and botanical gardens add value to the city’s undeniable appeal. Whether you are looking for house, an apartment, or a condominium unit, you are sure to find Perth a wonderful city to live in.

Types of Housing

Residential neighbourhoods in Perth are mostly dominated by 4 × 2 single-detached houses. According to the Department of Housing and Planning’s 2012 study on the affordability of homes, this suburban setup reflects the type of housing that has long been preferred by the average Australian.

However, freestanding homes in the suburbs are not always affordable for many. This can be attributed to the fact that the housing demand skyrockets when the housing supply is inadequate, in which case the price tag on houses increases. This condition has been a boon for mortgage brokers and banks that offer home loans and mortgage loans.

Demand for Housing Means Construction Adjustments

Regardless of their design, single-unit freestanding homes have indeed become popular choices for aspiring homeowners. However, new construction in recent years has been slowly moving away from single-unit homes in the suburbs to two- and three-unit duplexes.

Many of these duplexes are built like semi-large brick homes, with many even having an entryway on one side for one of the duplexes and a driveway for the other. This promotes independence while providing people with more space to live in.

The 2012 study by the Department of Housing and Planning was aimed at not only gaining information from individuals who yearn for good housing in the city but also figuring out just how bad the housing shortage was and what changes should be made to solve the current issues.

Semi-detached homes are projected to become popular options, as the study showed that people are willing to give up space for the right location within the city. Given that Perth is eyeing to renovate the inner parts of the city to create new housing in the limited areas available, these semi-detached modern homes can be a top choice among new residents. These changes can also help slow down the increasing prices, in which case housing loans are seriously needed.

A Variety of Housing Options Remain

Many multiple-bedroom homes remain available, but their prices are steadily rising because of the relatively few options and the continuously increasing demand for housing. Even couples holding full-time jobs will find this type of housing in Perth nearly impossible to afford.

Gated Community or Neighbourhood Homes

Fully detached properties in gated communities have lost their flare, with many choosing duplexes and row houses that are becoming the centre of new construction aimed at maximizing space. There are even some neighbourhoods that adopt repetitive building code themes and thus produce similar looking houses that are built side by side. Apartments are sometimes built over garages to fit a few more residents.

These types of housing are not unique to Perth, but their increasing number shows that the growing housing demand and the limited space affect the types of housing that remain available for actual purchase.

Getting Funding For Your New Home

Perth faces some unique challenges, including its third-place ranking in the list of worst Australian capitals to find affordable quality housing. The main problem is the industry pricing in the midst of the dwindling housing supply.

Many Australians who want buy their own homes are actually incapable of saving enough money to pay for their dream homes in full. As prices continue to go up, the need for a good home loan from a bank becomes more obvious, but it also brings about the burden of making regular payments and the need for a long-term guaranteed income.

Perth has many types of houses for those who want to become permanent residents, but finding one in the right location for the right price is a challenge. As a buyer, it is up to you weigh all your available options and determine the best possible solutions.

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