Affordability and confidence driving demand in Perth’s new home market

Affordability is driving buyer demand across Stockland’s Perth communities as growing families seek out new house and land packages that meet their needs and offer great value for money.

Stockland has experienced a surge in upgrader purchases in recent months with home buyers taking advantage of the current market conditions and prices in Stockland communities starting from as little as $158,000*.

This comes amid Stockland’s acquisition of more than 4,600 residential lots over three sites, strategically located in the fast-growing north-west, north-east and south-west metropolitan corridors of Perth.

The early signs of improved economic conditions, coupled with strong buyer demand in Perth, have enabled Stockland to plan for these three new liveable and affordable residential communities, while ensuring future demand is met.

For Perth home buyers, historically low interest rates and growing market confidence create a compelling scenario for anyone thinking of buying a bigger home prior to Christmas.

First home buyers make up 50 per cent of Stockland sales nationally and while this sector of the market is still strong in Perth, upgraders are making their presence felt with a 20 per cent lift in market share in the past few months.

This shift demonstrates the growing confidence in the upgrader market, buoyed by the affordable, high quality homes and the appealing lifestyle Stockland communities offer.

Coupled with the success of our six Perth communities, we are excited about both the current state of the market and our future plans to create new affordable, masterplanned communities.

When you consider the median house price in Sydney – which is currently $905,917 – there are significant advantages for Perth buyers and throughout the year we have recorded strong interest from buyers who are able to purchase a new home with a contemporary design for typically less than an established house.

The excellent affordability of new builds also extends to significantly cheaper energy costs, owing to more energy-efficient designs.

Beyond the affordability and convenience of purchasing new, Stockland’s community lifestyle benefits are a major drawcard for buyers.

Perth residents want to be close to parks, bikeways, shops and employment opportunities, while living in a safe and masterplanned community.

The highly-sought after Sienna Wood project, at Hilbert, is set to launch a $4.8 million Shipwreck Park, while Piara Waters’ Newhaven community just celebrated the first birthday of its popular Robot Park.

Buyer feedback has revealed Stockland’s innovative parks, bikeways, nature access points and amenities influence sale demand, on top of the communities’ planned schools, transport links and services.

Our free weekday fitness programs, Live Life Get Active, which are held in each of the six communities, as well as free dog training sessions, movie nights and park parties, have helped secure high liveability ratings, while offering increased value to buyers.

We expect these excellent buying conditions will continue to improve and look forward to further growth in our WA communities in the year ahead.

To find out more about Stockland Communities, contact us today