Head to outskirts 'for competitive property deals'

Heading to the suburbs could be a wise way to make the most of home loan money, it has been claimed.

Speaking to the Australian, KPMG demographer Bernard Salt reveals that prospective first-time buyers are increasingly prepared to move to the outskirts of large cities in order to get on the housing ladder as such areas are more affordable.

Indeed, he points out that in places such as Werribee – located in Melbourne’s western front – it is possible to purchase a house and land package for under $260,000.

However, with such areas becoming increasingly popular, those looking for a low interest home loan with which to purchase a property may want to act quickly.

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

Those looking to sell a property could be interested in recent comments by renovation expert Vera Klein that as first impressions are important, those looking to get the possible price of their home should look to freshen up the entrance to their home.

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