New research from St.George Bank shows home buyers and investors may have more in common than they first think... Perth apartment blocks in high demand...
Investors and home owners cut from the same cloth?
New research from St.George Bank shows home buyers and investors may have more in common than they first think.
According to a survey of 1,000 owner carried out by the bank, affordability is the most important factor to new home buyers, however potential for future capital growth is the second most important factor.
The survey revealed that future growth potential is more important than numerous other influencing factors often associated with owner occupiers.
According to the survey, potential for future growth is more important for homebuyers than distance to work (ranked 3rd priority), distance to shops and attractions (4th) and distance to family and friends (5th).
The survey respondents also said evaluating which properties presented good value was the most difficult task during the house hunting process.
Ross Miller, general manager for St.George retail banking, said the survey shows owner occupiers understand just how important the right purchase is when it comes to an asset as large as their house.
“Buying a first home is more than buying a roof over your head. Our home is usually our biggest financial investment and over the last few decades we have seen a sharp increase in the value of the average Australian home,” Miller said.
Perth apartment blocks in high demand
Perth’s older, smaller apartment blocks are becoming a sought after asset according to global real estate agency Knight Frank.
The past 12 months have seen Knight Frank sell more than $20m worth of apartment blocks in Perth, across suburbs such as South Perth, Inglewood, Jolimont and Daglish.
According to Todd Schaffer, Knight Frank's senior director for Western Australian capital markets, the sales have involved blocks priced from $1.2m to more than $6.5m.
While some may think buyers are stockpiling the sites for future developments, Schaffer said the blocks had been purchased despite them holding a lack of future development potential.
“The sales are primarily coming from apartment blocks in established residential areas where there is little or no scope for larger scale residential redevelopment on the site,” Schaffer said.
(Your Investment Property)
New research from St.George Bank shows home buyers and investors may have more in common than they first think.
According to a survey of 1,000 owner carried out by the bank, affordability is the most important factor to new home buyers, however potential for future capital growth is the second most important factor.
The survey revealed that future growth potential is more important than numerous other influencing factors often associated with owner occupiers.
According to the survey, potential for future growth is more important for homebuyers than distance to work (ranked 3rd priority), distance to shops and attractions (4th) and distance to family and friends (5th).
The survey respondents also said evaluating which properties presented good value was the most difficult task during the house hunting process.
Ross Miller, general manager for St.George retail banking, said the survey shows owner occupiers understand just how important the right purchase is when it comes to an asset as large as their house.
“Buying a first home is more than buying a roof over your head. Our home is usually our biggest financial investment and over the last few decades we have seen a sharp increase in the value of the average Australian home,” Miller said.
Perth apartment blocks in high demand
Perth’s older, smaller apartment blocks are becoming a sought after asset according to global real estate agency Knight Frank.
The past 12 months have seen Knight Frank sell more than $20m worth of apartment blocks in Perth, across suburbs such as South Perth, Inglewood, Jolimont and Daglish.
According to Todd Schaffer, Knight Frank's senior director for Western Australian capital markets, the sales have involved blocks priced from $1.2m to more than $6.5m.
While some may think buyers are stockpiling the sites for future developments, Schaffer said the blocks had been purchased despite them holding a lack of future development potential.
“The sales are primarily coming from apartment blocks in established residential areas where there is little or no scope for larger scale residential redevelopment on the site,” Schaffer said.
(Your Investment Property)
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