Bal­divis tops bar­gain homes list

Southern Telegraph - - News -

First-home­buy­ers want­ing a prop­erty bar­gain should look in the sub­urbs that have an over­sup­ply of homes at en­try-level prices ac­cord­ing to a val­u­a­tion ex­pert, with Bal­divis pro­vid­ing value.

Prop­erty com­men­ta­tor Gavin Heg­ney said an abun­dance of listed prop­er­ties within a sim­i­lar price range in a sin­gle suburb tended to drive prices down be­cause it cre­ated a buy­ers’ mar­ket.

How­ever, buy­ers should be warned that while they may get a lot of bang for their buck in an over­sup­plied area, short and medium-term re­sale val­ues were likely to suf­fer un­til the sur­plus stock was re­duced, which could take many years.

Bal­divis tops the list for hav­ing the high­est num­ber of dwellings on the mar­ket for $450,000 or be­low, which is the av­er­age en­try-level price range. Bal­divis has 146 houses and 16 units priced at $450,000 or less, which make up 2.3 per cent of the to­tal num­ber of prop­er­ties for sale in WA.

Rock­ing­ham has the next high­est num­ber of listed en­try-level prop­er­ties, with 44 houses and 77 units within the first-home­buyer price range.

Then comes Gos­nells, Clark­son, Ar­madale, El­len­brook, Balga, But­ler, Perth and Waikiki.

At the other end of the price scale, 59 sub­urbs have no prop­er­ties selling for $450,000 or be­low.

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