First home buyers seek city fringe property

First home buyers seek city fringe property

by 0 comments

An increasing number of first home buyers are moving to the outskirts of big cities in order to secure affordable land and house packages, KPMG demographer Bernard Salt has claimed.

A day after the Reserve Bank of Australia (RBA) governor Glenn Stevens spoke of the importance for economic recovery of increasing the nation’s housing stock, Mr Salt said there was strong demand for cheap housing on the city fringes.

“Migration figures out this week show Australia’s population is still growing at record rates, and these people must live somewhere.

“They go to the most affordable areas, and the fastest growing area at the moment is Melbourne’s western front – places like Werribee, where you can still pick up a house and land package for less than $260,000,” Mr Salt said.

 

An increasing number of first home buyers are moving to the outskirts of big cities in order to secure affordable land and house packages, KPMG demographer Bernard Salt has claimed.

A day after the Reserve Bank of Australia (RBA) governor Glenn Stevens spoke of the importance for economic recovery of increasing the nation’s housing stock, Mr Salt said there was strong demand for cheap housing on the city fringes.

“Migration figures out this week show Australia’s population is still growing at record rates, and these people must live somewhere.

“They go to the most affordable areas, and the fastest growing area at the moment is Melbourne’s western front – places like Werribee, where you can still pick up a house and land package for less than $260,000,” Mr Salt said.

 

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How effective are testimonials as a marketing tool?

Not effective at all
Somewhat effective
Very effective
They are the most effective tool there is
Do you have an industry update?