A Closer Look at APRA Decision A Win For WA Home Buyers
REIWA Deputy President Lisa Joyce said loosening the restrictions was a win for Western Australian home buyers and investors. When APRA originally introduced these tighter lending rules, the decision was made with the red-hot east coast markets, like Sydney and Melbourne.
Now that these restrictions have been loosened, more West Australians will now be able to access interest-only loans. Therefore, making home ownership and property investment more affordable, which should help stimulate our local property market as it starts to recover.
Following the negative impact these national rules have had on the WA market, REIWA calls on APRA to ensure WA is not further burdened by its national approach.
These changes will come into effect on 1 January 2019.
For landlords and property investors, maintaining the property to a high standard, conducting regular inspections, and responding promptly to tenant requests are fundamental to achieving strong returns and minimising vacancy periods in the competitive Perth rental market.
Understanding the local market dynamics is essential for anyone considering a property transaction in this area. Key factors to evaluate include recent comparable sales, days on market, and broader economic indicators that influence property values and rental demand.
The local property market has demonstrated resilience, with consistent demand driven by the area’s affordability and lifestyle appeal. Engaging a qualified property manager or real estate professional can help navigate the specific considerations relevant to this property and its surrounding market.
This property represents a solid opportunity within the local market. The combination of location, land size, and existing infrastructure makes it suitable for a range of buyers, from owner-occupiers seeking a family home to investors looking for rental yield and capital appreciation.