Buying a new home nearly the same as renting

Falling interest rates and Perth’s very low rental vacancy rate means that it is now nearly as cheap to buy a new home as renting one according to Dave Gillon, Sales Manager at 4Land Property Group.

Mr Gillon said that 4Land Property Group is now offering first home buyers house and land packages starting at just $297,990 which would cost the buyer around $435.00 in weekly mortgage repayments.

“When you consider that the median weekly rent in Perth is now around $400, it now makes financial sense for people who are renting to purchase a new home.

“Over the last year, weekly rents in Perth jumped by 8.1% and are predicted to rise even further during 2012 with the rental vacancy rate now at just 2.3.

“Historically, when the rental vacancy rate falls below 3%, there is an upward pressure on rents.

“People wanting to secure a rental property are now being forced to pay above the listed price because competition from other rental applicants is so strong. This famine of rental properties is now encouraging more renters to consider buying a home.

“As part of this trend, 4Land Property Group has recorded a 60% jump in enquires from first home buyers wanting to buy a new home during the last month.

“In particular, we have found strong demand for house and land packages at our Natures Walk Estate in Erskine which start from just $297,990.

“We are finding that first home buyers are pleased that these high quality homes can be completed to a turn key standard meaning that all the hard work is done by the day the residents move in, leaving them to enjoy the tranquil surrounds. For example, the homes include air conditioning, security system and even a clothes line and letter box.

“Natures Walk Estate is set on natural bushland next to the Peel Estuary and is only five minutes from Mandurah. It has proven popular with a range of property buyers with Stage 1 & 2 of the Estate almost sold out and Stage 4 selling well.

“First home buyers also receive a life-time builder’s guarantee from Impressions Homes. Buying new also means that they do not have to worry about maintenance costs associated with buying an established home.

Natures Walk Estate is located at the corner of Oakleigh Drive and Willoughbridge Crescent, Erskine. Further information on house and land packages at the Estate can be obtained from Dave Gillon on 0412 597 733 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .