With the increasing number of first home buyers entering apartments and townhouses, which otherwise may have been bought by investors who are first home buyers now receive the benefits that come with the Perth housing market stagnant.
According to Real Estate Institute in Washington, investors have lost interest in buying a house and land packages through its overpriced properties, which reduces competition and lower prices of house plans, drawings , especially for multi-dwelling units, usually attracts investors.
March quarter figures released by REIWA this week showed that the average price of a group that includes apartment housing, unit, townhouse or a house in Perth has fallen by about $ 7,000 to $ 402,000, while the Outside the capital, has fallen about $ 2000 to $ 325.000.
REIWA President Alan Bourke said in his statement that investors often prefer multi-residential properties, but they are thin on the ground.
Recent housing market seems to be in favor of first home buyers, who are moderately active and was about 23 percent of the buyers during the quarter.
The latest figures from the state government, the median price in Perth for the first time buyers was $ 415,000 and $ 325,000 for people in regional areas.
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