Perth 'has plenty for home loans customers'

Friday 17 June 2011

Article by Mozo

Prospective home loans customers may find that now is the ideal time to purchase a property in Perth as the city has a large number of abodes available.

Perth 'is a buyers' market'

Recent figures published by the Commonwealth Bank (CB) and RP Data revealed that there has been a 3.4 per cent drop in prices in the city.

"Prospective home buyers in Perth remain in the driver's seat, with the number of homes for sale still outweighing effective demand," the report said.

It added that those with home loans looking to purchase a residence in the city will find they are "in a strong position" when they negotiate a price.

Michael Cant, executive general manager of the Commonwealth Bank, recently observed that there has been a drop-off in the number of Aussies purchasing dwellings.

This comes after the Genworth International Mortgage Trents report found that despite nearly half (44 per cent) of those polled saying they were concerned about their finances, most Aussies are still keeping up with the mortgage repayments.

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