Mortgage Brokers Expect Rise in Rockingham Home Prices Soon
Announcement posted by Smartline Rockingham 11 Jul 2016
Mortgage brokers in Rockingham reveal why Perth and its suburbs may be ready to join the rest of Australia with a rising property market.
Rockingham, WA, 11 July 2016 - The property market in Perth has gone down 4.2% in the twelve month ending in May 2016 but the mortgage brokers at Smartline Rockingham think the Perth housing market has hit its “rock bottom.” If they are correct, it means that housing prices for the entire Perth market could begin to rise like those in other parts of Australia have.
While Perth and suburbs have watched housing prices fall, the Melbourne market has seen them increase by 13.9% and the Sydney market has seen them increase by 13.1%. Housing investors in the Perth area are wary of investing in housing but many think the time to buy is now.
Justin Smith is the principal mortgage broker at Smartline Rockingham. He has been in the finance industry for more than 28 years. According to Mr Smith:
“While we did see housing prices go down a bit this year at 2.71%, we never really felt the full force of the factors that kept prices down. In fact, Rockingham made a top ten list of Perth’s projected ‘hottest suburbs for 2016.’ Property investors remember how Baldivis was the hottest suburb in Perth a few years ago. We could easily see the same thing happening here.”
WA has lagged behind other states in the housing market for a few reasons but the main one has been the contraction of the resource industry. While the mining boom prevented WA from suffering as badly from the Global Financial Crisis as the rest of Australia did, the contraction of the mining industry has kept the housing market from growing now, even as other capital cities are thriving.
However, WA is showing signs of recovering from the mining industry’s contraction. Mining is only the fifth-largest employer in WA. The sectors of retail, healthcare and infrastructure are leading the way for WA and Perth in the current era. Another factor is that infrastructure projects such as transport and medical facilities are creating more jobs.
According to Mr Smith: “Rockingham is a great place to live and to invest in single family homes. We really have it all here. We have a seachange lifestyle but we also have easy access to the Perth CBD by rail or highway. For those who don’t want to go to Perth, we have our own infrastructure here that provides jobs and fulfils the needs of our residents.”
Mr Smith concluded: “I am convinced that there will never be a better time than now to buy a home in Rockingham. Interest rates are at a record low and house prices are as low as they are going to get. Market entry is never going to be easier than it is right now for investors or first home buyers. It’s time to do whatever you can to get a down payment and make your dream happen.”
Smartline Rockingham is a firm of mortgage brokers for the Rockingham, Baldivis and Kwinana areas. They have been Rockingham’s most trusted mortgage brokers since 1999. They provide access to the credit products of 28 different lenders and use their expertise and experience to determine which lenders are right for each individual client. To learn more or to speak to a mortgage broker, call (08) 9527 1800 or visit their website: http://www.mortgagebrokersrockingham.com.au/.
While Perth and suburbs have watched housing prices fall, the Melbourne market has seen them increase by 13.9% and the Sydney market has seen them increase by 13.1%. Housing investors in the Perth area are wary of investing in housing but many think the time to buy is now.
Justin Smith is the principal mortgage broker at Smartline Rockingham. He has been in the finance industry for more than 28 years. According to Mr Smith:
“While we did see housing prices go down a bit this year at 2.71%, we never really felt the full force of the factors that kept prices down. In fact, Rockingham made a top ten list of Perth’s projected ‘hottest suburbs for 2016.’ Property investors remember how Baldivis was the hottest suburb in Perth a few years ago. We could easily see the same thing happening here.”
WA has lagged behind other states in the housing market for a few reasons but the main one has been the contraction of the resource industry. While the mining boom prevented WA from suffering as badly from the Global Financial Crisis as the rest of Australia did, the contraction of the mining industry has kept the housing market from growing now, even as other capital cities are thriving.
However, WA is showing signs of recovering from the mining industry’s contraction. Mining is only the fifth-largest employer in WA. The sectors of retail, healthcare and infrastructure are leading the way for WA and Perth in the current era. Another factor is that infrastructure projects such as transport and medical facilities are creating more jobs.
According to Mr Smith: “Rockingham is a great place to live and to invest in single family homes. We really have it all here. We have a seachange lifestyle but we also have easy access to the Perth CBD by rail or highway. For those who don’t want to go to Perth, we have our own infrastructure here that provides jobs and fulfils the needs of our residents.”
Mr Smith concluded: “I am convinced that there will never be a better time than now to buy a home in Rockingham. Interest rates are at a record low and house prices are as low as they are going to get. Market entry is never going to be easier than it is right now for investors or first home buyers. It’s time to do whatever you can to get a down payment and make your dream happen.”
Smartline Rockingham is a firm of mortgage brokers for the Rockingham, Baldivis and Kwinana areas. They have been Rockingham’s most trusted mortgage brokers since 1999. They provide access to the credit products of 28 different lenders and use their expertise and experience to determine which lenders are right for each individual client. To learn more or to speak to a mortgage broker, call (08) 9527 1800 or visit their website: http://www.mortgagebrokersrockingham.com.au/.