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78.13%
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First home buyers seek city fringe property

By Staff Reporter
30 July 2009 | 1 minute read

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.

 

First home buyers seek city fringe property
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Enter your email to receive the latest real estate advice and tools to help you sell.